Capital raising

Leadenhall-backed Gryphon Group Holdings is to take on the Guardian brand name for its start-up which plans to take a technology-focused approach to providing life insurance products

Florida carrier United Insurance Holdings (UPC Insurance) said its $150mn public debt offering which closed yesterday would enable the company to participate in future opportunities

Florida carrier United Insurance Holdings (UPC Insurance) is seeking to raise $150mn of capital through a debt issuance.

Markel Catco has set up a further loss reserve of 4.4 percent of net asset value (NAV) for its Catco Reinsurance Opportunities Fund to cover losses from the wildfires in northern California in October, according to a London Stock Exchange announcement.

Markel Catco has raised $3.37mn by issuing new shares in its Reinsurance Opportunities Fund, according to a London Stock Exchange announcement.

Solvency II continued to drive life deals in 2017 after the EU capital regime came into force last year, while the market dislocation seen in 2016 following an increase in mortality rates finally abated, sources said.

Markel Catco has said it will raise gross proceeds of $543mn by issuing new shares in its London-listed Catco Reinsurance Opportunities Fund.

Lloyd's insurer Brit has announced the launch of a new specialty (re)insurance platform, Scion Underwriting Managers, which intends to write business on behalf of third party capital providers as well as Brit and other markets

Hudson Structured Capital Management has led a $15mn fundraise for Goji, an independent US online personal lines insurance agency.

Losses to insurance-linked securities (ILS) managers overseeing collateralised reinsurance strategies ranged from 10 to 20 percent in September following the recent hurricanes.

Collateralised reinsurance fund strategies took losses of 10-20 percent in September, Trading Risk understands.

A new reinsurance MGA, Chord Re, will begin writing specialty and property business from 1 September after former Aspen Re executive Stefan Long launched the business with backing from MGA incubator Beat Capital and insurer Neon.