Validus Re CEO Kean Driscoll said the company would put more of its capital to work in the retro market alongside third-party capital in 2018 as it anticipated material rate increases and limited capacity in this sector.
Estimated losses of EUR250mn from Storm Herwart, which hit large parts of northern and central Europe over the weekend, should be absorbed by insurance carriers, according to actuarial specialist Meyerthole Siems Kohlruss.
New York-listed Blue Capital Reinsurance Holdings reported a $51.9mn net loss for the third quarter as it took losses of $68.1mn from hurricane events in the quarter.
Everest Re's Mt Logan sidecar posted a $116mn drop in assets under management during the third quarter to reach $833mn on 1 October, compared to $949mn at 1 July.
Aspen ceded more than 40 percent of its gross losses from the third quarter catastrophes to its reinsurance and retro partners, the company's executives said on an earnings call
RMS said that insured losses from the California wildfires should be a similar level to economic damages due to high insurance coverage, as it put total losses at $6bn-$8bn.
