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Transverse acquisition by Mitsui Sumitomo Insurance confirmed

The rumoured acquisition of hybrid P&C program, fronting and risk transformation company Transverse Insurance Group by MS&AD Holdings, through its Mitsui Sumitomo Insurance unit has now been confirmed, as the firms made a joint announcement this morning. The news was reported at the weekend by our sister publication Reinsurance News, with read the full article →

MS&AD’s interest in Transverse shows importance of being a connector

This weekend it was reported that Japanese insurance group MS&AD Holdings, through its Mitsui Sumitomo Insurance unit, has made an at least $400 million bid to acquire hybrid P&C program, fronting and risk transformation company Transverse Insurance Group. Reported yesterday by our sister publication Reinsurance News, after the Nikkei broke the read the full article →

MGA sales unlocked significant value, allow Nephila to focus: Whitt, Markel

Markel's sale of the two managing general agent (MGA) platforms that its ILS investment manager Nephila Capital had created and had ownership stakes in has unlocked significant value related to its acquisition of the manager, Co-CEO Richie Whitt explained recently. As well as unlocking value, Markel is also adjusting strategy to read the full article →

Markel’s sale of Nephila-owned MGA’s valued them around $384m

After Markel Corporation sold off the managing general agent (MGA) platforms created and owned by its flagship insurance-linked securities (ILS) investment manager Nephila Capital, it's now become clear the combined value of the MGA's was around $384 million. Following the sales of the MGA platforms, that ILS manager Nephila Capital had read the full article →

SiriusPoint invests in Mosaic & offloads Lloyd’s managing agency

SiriusPoint and Mosaic Insurance, which both launched in February of last year, have entered into a strategic partnership which includes an investment from the former into the latter, and also the sale of Sirius International Managing Agency (SIMA) at Lloyd's to Mosaic. Specialty insurer and reinsurer SiriusPoint is to invest in read the full article →

Markel values stake in sale of Nephila’s MGA Velocity Risk at $180m

Markel Corporation has estimated that the recent sale of ILS fund manager Nephila Capital’s managing general agency (MGA) Velocity Risk Underwriters LLC to funds managed by Oaktree Capital Management, L.P. has netted the company around $180 million. Oaktree Capital Management, L.P., a leading global investment manager specialised in private equity and read the full article →

SCOR Investment Partners ILS assets surpass $3bn

SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, experienced further inflows to its insurance-linked securities (ILS) fund strategies through 2021, to end the year with record assets of above US $3 billion. SCOR Investment Partners' (SCOR IP) ILS assets under management had reached $2.9 billion as read the full article →

Sale of Nephila Capital’s MGA Velocity Risk to Oaktree completes

The previously announced sale of ILS fund manager Nephila Capital's managing general agency (MGA) Velocity Risk Underwriters LLC to funds managed by Oaktree Capital Management, L.P. has now completed. The managing general agency (MGA) operation, which was established and operated by reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital, read the full article →

Nephila Capital’s MGA Velocity Risk sold to funds managed by Oaktree

Velocity Risk Underwriters LLC, the managing general agency (MGA) operation established by reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital, has been acquired by funds managed by Oaktree Capital Management, L.P. Nephila Capital is maintaining a minority stake in the managing general agent, which is largely focused on underwriting read the full article →

R&Q targets ILS markets for program management: Spiegel

William Spiegel, Executive Group Chairman of Randall & Quilter (R&Q) Investment Holdings, said this morning that insurance-linked securities (ILS) markets are a target for the firms growing program management business. R&Q typically works alongside managing general agents (MGA's) and reinsurance providers to them, helping them deploy program focused capacity using its read the full article →