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Primary insurers are increasingly likely to explore establishing sidecars, said Guy Carpenter’s new global head of ILS Shiv Kumar.
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Recent M&A deals point to the prospect of the ILS market disintermediating the reinsurance channel in future, said KBW analyst Christopher Campbell.
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The start-up plans to put the assets to work in the January retro renewals.
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QBE Re chief underwriting officer Jonathan Parry said the firm is not likely to join the surge of reinsurers looking to raise ILS sidecars, as it can source the retro support it needs from the private market.
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Former Aeolus and Lancashire executive Simon Fascione will be working across all of the ILS manager’s reinsurance strategies in his new role.
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One of the broad industry trends at the moment is reinsurers and MGAs seeking ILS or third-party capital to replace other funding sources or underwriting paper, respectively.
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The cat bond market has been the fastest-growing ILS segment in the past year, Aon said in its latest ILS report.
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Heise will identify insurance marketplace pain points to assist Akinova in realising its goal of launching an electronic trading platform for (re)insurance risk, the company said.
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As the challenging operating market leads more and more reinsurers to raise third-party capital, it seems strategic benefits might be easier to come by than financial benefits, commentators have suggested.
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California has suffered another record-breaking wildfire season but the impact on the ILS market is likely to be marginal, sources have said.
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Mt Logan Re investors took $133.8mn of losses in Q2 as its parent Everest Re suffered from adverse development on 2017 claims, undoing the benefit of reserve releases booked in the fourth quarter last year.
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It is understood the hire of Paresh Thakrar is part of a wider push to build out Brit’s third-party capital capabilities.
