casualty

With the catastrophe bond market seeing eleven new sponsors enter the space so far this year, the trend highlights how involvement in the market has become more acceptable, and how sponsors are increasingly comfortable with cat bonds overall, according to Brad Adderley, Partner at global law firm Appleby.

Specialty Risk RE (SRR), a non-cat property and casualty focused collateralised reinsurer launched in 2024, has successfully closed an initial $50 million institutional funding round, led by private equity firm NMS Capital Group.

Insurer and reinsurer Aspen Insurance Holdings Limited, and asset manager PIMCO, have announced the launch of Pando Re Ltd., a Bermuda-based, casualty focused collateralised re/insurer that act as a reinsurance sidecar and help to drive growth of third-party capital and fee income for Aspen Capital Markets.

Fleming Insurance Holdings, a company that has been building out a casualty focused insurance-linked securities (ILS) offering, has agreed to acquire JRG Reinsurance Company, Ltd. (JRG Re), the third-party casualty reinsurance business of James River Group.

Fleming Insurance Holdings has received positive feedback from the investor community as it works towards the launch of its insurance-linked securities (ILS) platform focused on the emerging and exciting casualty ILS space, explained Eric Haller, Chief Executive Officer (CEO).

Reinsurance reserve releases have been slowing over recent quarters for many in the sector, with the fourth-quarter of 2015 seeing more reinsurers reporting smaller releases, rather than larger, a trend that analysts at Keefe, Bruyette & Woods expect will continue.

In its recently published alternative reinsurance market update, Fitch Ratings highlights potential concerns over recently formed casualty risk focused part-sidecar, part-third-party capital vehicle, part-hedge fund strategy reinsurer Watford Re.

Watford Holdings Ltd., the parent of start-up and wholly owned reinsurance subsidiary Watford Re Ltd., has announced that it successfully raised $1.13 billion of capital including $100m from Arch Capital Group Ltd.

An announcement from Watford Holdings Ltd. and its wholly-owned reinsurance subsidiary Watford Re Ltd. says that the much-discussed casualty focused, third-party capital backed reinsurer is set to start underwriting shortly.

The recently announced plans of Bermuda-based insurance and reinsurance group Arch Capital and investment management firm Highbridge Capital to launch a third-party capital backed venture named Watford Re are an interesting take on the trend.