Reinsurance News

Vesttoo and fronting specialist Clear Blue have announced a partnership today, with the former intending to deploy as much as $1 billion of capacity from the capital markets through Clear Blue’s property and casualty (P&C) programs over the next year.

Insurance organisations are calling for a crackdown on property insurance fraud instigated by contractors in Florida, which in recent years has been seen as one of the drivers of heavy litigation related claims inflation and ballooning losses that fell to the reinsurance industry.

Markel’s flagship insurance-linked securities (ILS) investment manager Nephila Capital continues to benefit from “significant premiums” delivered via MGA Velocity Risk, even after its sale was completed, Markel’s Co-CEO Richie Whitt said recently.

Bermuda domiciled re/insurance, run-off and legacy specialist Enstar Group is eliminating its exposure to catastrophe risks with a shuttering of its joint-venture reinsurer, Enhanzed Reinsurance Ltd. (Enhanzed Re).

Data aggregator PERILS AG has raised its insurance and reinsurance industry loss estimate for the European windstorm series that struck in February of 2022 by almost 4% to EUR 3.739 billion.

Prices for property catastrophe reinsurance are likely to continue to rise into 2023, especially as concerns over inflation and the global economic environment persist, rating agency AM Best has said.

Technology-led underwriter of parametric risk transfer, climate and weather insurance business, Arbol, has today reported that it transacted more than $100 million in gross written premium (GWP) in the first half of 2022.

AXIS Capital, the Bermuda headquartered specialty insurance and reinsurance underwriter, is aiming to grow out its non-catastrophe activities with third-party capital partners, which should replace an anticipated dip in fee income from catastrophe risks it was sharing, the firm’s CEO has said.

Analysts at KBRA have said that in order to stabilise the troubled Florida property insurance marketplace, there’s a need for some decisive and coordinated action by various stakeholders, as carriers in the state are faced with a myriad of challenges.

Descartes Underwriting, an insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, has launched a new office in Germany as it looks to expand its parametric coverage across the DACH region.