Alleghany took a $9.4mn loss in the third quarter from its share in results managed by Bermudian ILS manager Pillar Capital, down from a $5.9mn profit a year earlier
Unreported losses from the third quarter catastrophe events should largely close the $70bn gap between disclosed claims and overall industry loss estimates, according to Morgan Stanley analysts
The winds of hurricanes Harvey, Irma and Maria have propelled 2017 into being one of the reinsurance market's most expensive years for catastrophe losses ever.
RenaissanceRe CEO Kevin O'Donnell has said that the group's gross losses of about $2.2bn from third quarter catastrophes had been slashed by two-thirds due to cessions to third party capital and reinstatement premium income
USAA is planning to upsize its latest Residential Re cat bond by at least 24 percent, as the target size of the deal moved up to $280mn-$285mn from an initial $225mn, Trading Risk understands.
