catastrophe reinsurance

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Markel’s Richie Whitt “incredibly bullish on long-term prospects of ILS”

In spite of a challenging few years for both managers and investors from across the insurance-linked securities (ILS) space, the Co-Chief Executive Officer (CEO) of Markel Corporation, Richie Whitt, remains optimistic on the future of the market. In a wide-ranging discussion with the CEO of Aon's Reinsurance Solutions division, Andy Marcell, read the full article →

Nephila writing cat reinsurance a cleaner, more efficient option for Markel: Execs

Placing ILS fund manager Nephila Capital as the single point of entry to the property catastrophe reinsurance market for Markel Corporation is seen as a "cleaner option" for the company and also a way of generating operational efficiencies, Markel senior executives said yesterday. It was recently announced that Nephila Capital, the read the full article →

Nephila to be Markel’s single point of entry for property CAT reinsurance

Nephila Capital is set to become the single point of entry for Markel to access property catastrophe reinsurance, as the company shutters its Markel Global Reinsurance property CAT unit and creates a centre of excellence for catastrophe risk under the ILS fund manager. Markel acquired the largest insurance-linked securities (ILS) and read the full article →

Some syndicates at Lloyd’s said more cat exposed after renewals

A number of syndicates operating at Lloyd's have stepped up at the renewals of Florida catastrophe reinsurance to increase their share of program layers and ramp up line sizes, all at a time when the Corporation itself is maintaining a focus on minimising or moderating cat exposure across its marketplace read the full article →

United swaps to aggregate for attritional catastrophe reinsurance layer

Property casualty insurance holding company United Insurance Holdings Corp. (also known as UPC Insurance) has swapped its per-occurrence catastrophe reinsurance program for a new one-year new aggregate excess of loss reinsurance program, at the January renewals. The new reinsurance program sees United retaining the first $15 million of aggregate catastrophe losses read the full article →

Greenlight Re continues to avoid inadequately priced business

Greenlight Re, the Cayman Islands domiciled, hedge fund strategy reinsurance firm backed by David Einhorn and his Greenlight Capital, Inc. hedge fund, has slashed its premiums written again in the last quarter as it declined to renew business deemed unprofitable. Greenlight Re reported net income of $60.7m for the fourth quarter read the full article →

Not everyone is pulling back on U.S. catastrophe reinsurance

It may come as a bit of a surprise, but some reinsurance companies aren't pulling back on underwriting U.S. catastrophe reinsurance business, as the margins available continue to be attractive to firms for which the hurdle rate is sufficient to meet cost-of-capital. Over the last two or more years there has read the full article →

Reinsurance rates reaching unsustainable levels: Allianz Re CEO

In an interview with Bloomberg, Amer Ahmed the CEO of Allianz Re said that some reinsurance rates are reaching unsustainable levels which, if prices continue to decline, may cause his firm to buy more reinsurance and sell less. Ahmed was interviewed by Bloomberg in Munich and discussed the reinsurance pricing issue read the full article →

State Auto swaps quota-share for cat designated aggregate reinsurance

Primary insurer State Auto Financial Corporation has replaced its quota-share catastrophe reinsurance for a new aggregate cover featuring PCS catastrophe designation, a good example of a traditional reinsurance product that is similar to a capital market one. The lines between traditional reinsurance treaties and capital markets or ILS backed collateralized reinsurance read the full article →

Asian countries continue to develop catastrophe re/insurance markets

Countries across Asia continue to develop, or pursue the development of, functioning catastrophe insurance and reinsurance markets, which is a positive sign for global reinsurers and the insurance-linked securities (ILS) market. Countries across Asia are some of the most natural disaster exposed in the world, but at the same time have read the full article →