The Prudential Regulation Authority (PRA) will expect insurance special purpose vehicles (ISPV) to prove they have secured funding before risk transfer under the upcoming London ILS framework, according to guidelines published today
Florida carrier United Insurance Holdings (UPC Insurance) has amended regulatory filings to lift the amount of capital it could raise through ad-hoc equity or debt issuances to $250mn
RenaissanceRe raised $248.6mn of fresh equity for its DaVinci Re sidecar as of 1 October, after investors in the vehicle took a $255.5mn loss in the third quarter
Reinsurance CEOs have highlighted a significant gap between reported loss figures for the third quarter catastrophes and overall industry loss estimates of $80bn-$110bn
USAA could be set to claim a payout of about $20mn under the class 10 aggregate layer of its Residential Re 2017-1 cat bond following losses from the Californian wildfires and hurricanes Harvey and Irma, sources told Trading Risk.
