catastrophe reinsurance

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Era of catastrophe-focused traditional reinsurers may be over: AM Best

The era of catastrophe-focused traditional reinsurers appears to be over, rating agency AM Best announced today, as the pulling-back continues in some quarters, while the addition of more diversifying lines of business accelerates among once cat-specialist US and Bermuda based reinsurance firms. AM Best explained in a recent report that the read the full article →

Nat cat price momentum could hold for 2+ years: Swiss Re CUO Léger

Speaking at a recent analyst conference, Swiss Re's Group Chief Underwriting Officer Thierry Léger explained that pricing is now hard in the natural catastrophe reinsurance space, but that further rate hardening is also expected. Thierry Léger was speaking at Goldman Sachs European Financials Conference in Rome earlier this week, discussing Swiss read the full article →

Catastrophe capacity could be short later in 2022: Eckert, Conduit Re

Neil Eckert, Chairman of Conduit Re, a reinsurance company that started-up just over a year ago, believes that there could be some shortages in catastrophe capacity as 2022 progresses, which may provide attractive opportunities. Speaking during a webcast where Conduit Re's senior executives discussed the trading environment at the January reinsurance read the full article →

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 →