program business

The acquisition of hybrid P&C program, fronting and risk transformation company, Transverse Insurance Group, by MS&AD Holdings, through its Mitsui Sumitomo Insurance unit, has been completed, with the pair now targeting growth through this relationship.

Speaking about the emerging non-property, or non-catastrophe, insurance-linked securities (ILS) market and its prospects for growth, Andy Marcell, the CEO of Aon’s Reinsurance Solutions acknowledged growing activity there, but said it’s too early to expect it to affect the supply-demand equation.

Kestrel Group, the program specialist launched earlier this year by the Ledbetter family, has hired Dan Dijak from Vesttoo to lead its business development and strategy efforts, as it seeks to position itself as a key conduit in the market chain to facilitate the expansion of insurance-linked securities (ILS) into new lines of business.

Terry Ledbetter and Luke Ledbetter, formerly of fronting and program service insurance specialist State National Companies, are back with a new venture, having launched Kestrel Group as a program specialist with a focus on bringing greater efficiency to the insurance and reinsurance market value chain.

The rumoured acquisition of hybrid P&C program, fronting and risk transformation company Transverse Insurance Group by MS&AD Holdings, through its Mitsui Sumitomo Insurance unit has now been confirmed, as the firms made a joint announcement this morning.

This weekend it was reported that Japanese insurance group MS&AD Holdings, through its Mitsui Sumitomo Insurance unit, has made an at least $400 million bid to acquire hybrid P&C program, fronting and risk transformation company Transverse Insurance Group.

Amid the increased frequency, scope, and severity of natural catastrophes, insurance-linked securities (ILS) investors stand to benefit from the greater predictability and sustainability of non-nat-cat program-based portfolios of risk, according to AM RE Syndicate.

Program business, especially that focused on casualty lines of insurance and reinsurance, should prove increasingly attractive to insurance-linked securities (ILS) investors over time, as the cash-positive nature of the structure is beneficial for them, Shevawn Barder, CEO of AM RE Syndicate told us in a recent interview.

William Spiegel, Executive Group Chairman of Randall & Quilter (R&Q) Investment Holdings, said this morning that insurance-linked securities (ILS) markets are a target for the firms growing program management business.

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, is the latest carrier to want to offer its paper to risk capital, reinsurance and underwriting teams, with the launch of an insurance fronting business named PLMR-FRONT.