New Zealand’s sovereign wealth fund posted a 2 percent drop in its ILS holdings over its financial year while Ontario Teachers’ Pension Plan and Caisse de dépôt et placement du Québec invested $500mn in a new insurance investment platform.
Aspen Re has appointed Meredith Head as leader of North America property catastrophe.
She will join in September and report directly to Aspen Re CUO and Aspen Bermuda CEO Christian Dunleavy.
Markel Corporation has appointed AIG’s head of retail property in North America Guenter Kryszon as underwriting officer for global property, a position that includes partnering with Nephila.
Legacy insurer Quest and US investment firm Mangrove Partners have raised $300mn for a new Bermuda-based vehicle for legacy deals, sister publication The Insurance Insider has reported.
Perils has released an initial loss estimate of EUR1.47bn ($1.81bn) for extratropical cyclone Friederike, which hit the British Isles, Belgium, the Netherlands and Germany on 17 and 18 January.
Reinsurance buying strategies are likely to diverge ahead of the June renewals as some cedants attempt to agree capacity early and others sit tight in the hope of striking a better deal later on, sister publication The Insurance Insider has reported.
Liberty Mutual ceded $1.23bn to its reinsurance partners in 2017 following hurricanes Harvey, Irma, and Maria and the California wildfires, the company said in its end of year results on Monday.
Berkshire Hathaway's $20bn legacy reinsurance transaction with AIG is set to cost it $1.8bn more than initially expected, the company said in its annual results.
The Nakama Re 2018-1 cat bond settled at $700mn, after expanding by nearly 200 percent over the course of marketing, according to Trading Risk sources.
Aspen will get quota share support from a separate cell of its Peregrine vehicle, after electing not to renew its Silverton Re sidecar at this year's renewals, according to a 10K filing.
Britain's Department for International Development (DFID) will invest £25mn ($35mn) over a 20-year period in the Natural Disaster Fund managed by Global Parametrics, the DFID has confirmed.
Scor P&C earnings rose more than 94 percent to EUR344mn ($422.5mn) in Q4, as the carrier attributed its retro and ILS cover to helping it pass the "real-life stress test" of 2017.
United Insurance Holdings (UPC) lined up a new panel of quota share providers in January, as the firm said it had already renewed some of its loss-hit reinsurance layers ahead of the 1 June renewal.
PartnerRe took a $28mn operating loss for the fourth quarter as the impact of Q4 catastrophes was partially offset by a $23mn reduction in estimated losses from Hurricanes Harvey, Irma and Maria.
Zenkyoren's Nakama Re 2018-1 cat bond has more than doubled over the course of marketing to reach $700mn, after being marketed with an initial size of $250mn, Trading Risk understands.
Floridian carrier Heritage Insurance Holdings expects to reclaim $104.4mn from several tranches of its Citrus Re cat bond issuances following Hurricane Irma, Trading Risk has learned.
Alleghany took a $1.7mn loss during the full year from its investment in Pillar Capital, as a fourth quarter profit of $1.2mn from the Bermudian ILS manager partly offset third quarter losses.
The number of assignment-of-benefits (AOB) lawsuits in Florida rose for a third straight year reaching 129,781 in 2017, according to the Florida Justice Reform Institute.
The Bermuda Monetary Authority (BMA) has been criticised for demanding new disclosures from local alternative reinsurance operators without sufficient consultation with involved parties.
Seven districts of New Zealand have been declared a state of emergency as former cyclone Gita hit its west coast today with winds of up to 140 kilometres an hour.
Japanese technology firm SoftBank has requested several board positions as part of its proposed purchase of 20 to 30 percent of Swiss Re, according to the Financial Times.
The 7.2 magnitude earthquake which hit Mexico on Friday will not trigger a pay out from the World Bank's new CAR 118 - 119 cat bond issued earlier this month.
The Bermuda Monetary Authority (BMA) has asked local alternative reinsurance operators to disclose a detailed schedule of contracts written and losses incurred, including within loss-struck 2017 portfolios.
Initial industry loss estimates for last year's catastrophe events were probably too high to begin with, Arch Capital chief operating officer Marc Grandisson said on the company's fourth quarter earnings call.
MultiStrat has announced that it has completed a $28mn casualty linked securities (CLS) deal covering high-frequency and low-severity casualty business for a $14bn alternative asset manager.
The abundance of ILS and traditional capital is reducing the likelihood of a sustained rate hardening in catastrophe-exposed US insurance business, Willis Towers Watson has said in its update on the US property market.