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Spinnaker gets snapped up by insurtech Hippo

Spinnaker Insurance Company, the well-known program and fronting service specialist that was founded in 2015 by ex-Arch Re Ingrey family members, has been sold to insurtech Hippo. Hippo is a high-growth, technology focused insurance company that aims to transform home insurance and ownership completely, with the use of smart home technology read the full article →

Hannover Re grew its fronting for ILS business by 7% in 2019

Global reinsurance firm Hannover Re continued to expand its activities in the fronting space, with the volume of limit fronted for insurance-linked securities (ILS) investors and funds increasing by 7% during the year. Hannover Re has positioned itself as one of the key facilitators for the ILS market, with its activities read the full article →

Nephila’s MGA Velocity expanding homeowners writing in Florida & Texas

Velocity Risk Underwriters LLC, the managing general agency (MGA) operation of reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital, is to expand its direct sourcing of homeowners business in the core wind-exposed coastal insurance markets of Florida and Texas. Velocity has been steadily expanding its operations as an MGA, read the full article →

Transverse’s E&S fronting & risk transformation carrier gets rated

Transverse Insurance Group, the program and fronting firm that aims to help reinsurance capacity providers including insurance-linked securities (ILS) funds and investors to access risk more directly, has had its second fronting carrier rated. Transverse acquired Arrowood Surplus Lines Insurance Company (ASLIC) earlier this year, a Delaware-domiciled excess & surplus (E&S) read the full article →

Fronting start-up Obsidian hires program specialist Larkin as CUO

Fronting insurance holding company Obsidian has announced the hiring of program underwriting specialist Dan Larkin as the firms new Chief Underwriting Officer. Obsidian Insurance Holdings, Inc. was launched last month as a fronting insurance holding company with $100 million of capital and a goal to become a conduit to connect risk read the full article →

Obsidian launches as fronting conduit to reinsurance & alternative capital

Obsidian Insurance Holdings, Inc., has been launched as a new fronting insurance holding company with $100 million of capital, that aims to become a conduit to connect risk with reinsurance and alternative capital. Launched by private equity specialist investor Genstar Capital in partnership with management, Obsidian Insurance will be run by read the full article →

ILS market continues quest to front cedents more efficiently

The insurance-linked securities (ILS) market continues to evolve in the wake of the major catastrophe losses of recent years and one of the most important and ongoing developments is the quest to front cedents as efficiently as possible, A.M. Best explains in a new report. The rating agency highlights challenges that read the full article →

TransRe working to expand strategic capital relationships: Alleghany CEO Hicks

TransRe, the reinsurance arm of Alleghany Corporation, is able to "punch above its weight" in the global reinsurancem market, thanks to its access to efficient third-party capital, Alleghany CEO Weston Hicks said. The Alleghany group is actively working together to help TransRe expand on its strategic capital relationships, to help in read the full article →

Transverse acquires ASLIC to expand fronting to non-admitted programs

Transverse Insurance Group, a program and fronting carrier that wants to help facilitate access to risk for insurance-linked securities (ILS) funds and investors, has acquired a second insurance carrier specifically to enable its expansion to front for non-admitted programs. Transverse has an agnostic view as to where capital to back its read the full article →

Nephila’s MGA Velocity Risk Underwriters expands to New Jersey

Reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital will add a new primary source of risk from another eastern U.S. state, after its managing general agency (MGA) Velocity Risk Underwriters LLC has expanded into New Jersey. Velocity Risk Underwriters said today that it has again expanded its home insurance read the full article →