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Markel CATCo further hardens 2017 reserves, redemptions expected

Markel CATCo Investment Management Ltd., the retrocessional reinsurance investment manager, said this morning that following review it has decided to further strengthen its specific loss reserves for the 2017 hurricanes.The manager highlighted the ongoing uncertainty with regards to the 2017 loss events, for which it had already set up specific read the full article →

Markel writes down value of CATCo investment

Markel Corporation has written down the value of its investment in collateralized retrocessional reinsurance investment fund manager Markel CATCo Investment Management following recent challenges at the unit.Markel Corporation said that "Markel CATCo's ability to maintain or raise capital has been adversely impacted" by the situation that resulted from inquiries into read the full article →

PCS to launch Japanese industry loss estimates & index

Property Claim Services (PCS) is set to expand its range of industry loss data aggregation and index reporting services to include non-marine catastrophe losses in Japan, in response to demand from its client base.PCS provides estimates on catastrophe losses in a number of regions around the world, as well as read the full article →

Markel confirms commitment to ILS, support for CATCo team

Markel Corporation has confirmed its commitment to insurance-linked securities (ILS), telling the Board of the exchange listed Markel CATCo managed retrocessional reinsurance investment fund that it remains part of the firms long-term strategy.The confirmation comes in the wake of the news of the departure of Markel CATCo CEO Tony Belisle read the full article →

Markel execs take oversight of Markel CATCo as CEO’s depart

Markel Corporation has given senior executives Jed Rhoads and Andrew "Barney" Barnard oversight of its collateralized retrocessional reinsurance investment manager Markel CATCo after the departure of the CEO and CEO of Bermuda.Markel said on Friday that Anthony Belisle, Markel CATCo Chief Executive Officer (CEO) and Alissa Fredricks, Markel CATCo CEO read the full article →

Insurtech AkinovA gets investment from Hiscox & MS&AD

Digital risk trading insurtech start-up Akinova has secured an investment boost from reinsurance firm Hiscox Re and the venture arm of Japanese insurance holding company MS&AD.Akinova promises a digital platform for transfer and trading insurance and reinsurance risks and is looking to launch with an industry-loss warranty (ILW) type of read the full article →

Miller completes acquisition of ILW broker Alston Gayler (AG)

Miller Insurance Services LLP, the London broker majority owned by Willis Towers Watson (WTW), has completed its acquisition of Lloyd’s accredited and London headquartered insurance and reinsurance broker Alston Gayler (AG).Alston Gayler has a recognised ILW broking practice specialty and experience broking to collateralised reinsurance markets as a result and read the full article →

Markel CATCo sets & strengthens reserves for 2018 loss events

Markel CATCo Investment Management Ltd., the retrocessional reinsurance investment specialist, has announced further reserve setting and strengthening related to catastrophe loss events that occurred in 2018 and are expected to hit its listed retro fund portfolio.Recently the ILS and reinsurance linked asset manager that is owned by Markel Corporation announced read the full article →

ILW pricing stays relatively flat since recent catastrophe losses

Pricing for industry-loss warranty (ILW) backed retrocessional reinsurance protection has not shifted significantly since the aggregation of recent catastrophe loss events, with brokers still pitching capacity at the same rates as prior to the wildfires, sources have told us.Since the California wildfires are now assumed to be a $15 billion read the full article →