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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 →

Palomar launches insurance fronting business, PLMR-FRONT

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, is the latest carrier to want to offer its paper to risk capital, reinsurance and underwriting teams, with the launch of an insurance fronting business named PLMR-FRONT. Palomar highlighted its A.M. Best rating of “A-IX”, as the read the full article →

Nephila Capital’s MGA Velocity Risk pauses new Florida homeowners business

Velocity Risk Underwriters LLC, the managing general agency (MGA) operation of reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital, has paused accepting new homeowners business in Florida, citing a desire to control its rapidly grown portfolio in the State, we've learned. Please note: We've updated this article to clarify read the full article →

United (UPC) adds $150m to gross hurricane Irma loss

United Insurance Holdings (UPC Insurance), the Florida headquartered and still focused insurer, has revealed a further $150 million of loss creep related to 2017's hurricane Irma, which the company booked at the end of Q1 2021. At the same time, United (UPC) believes that the rate of litigation related claims inflation read the full article →

United (UPC) says Florida to remain “very firm for the foreseeable future”

Florida headquartered insurer United Insurance Holdings (UPC Insurance) has said that it anticipates the Florida personal lines property insurance market remaining "very firm for the foreseeable future". The carrier had recently explained that the litigation issue and resulting loss inflation and amplification continues for Florida homeowners’ insurers, with its data suggesting read the full article →

SCOR Investment Partners completes Coriolis Capital integration

SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, has now completed the integration of London based ILS fund manager Coriolis Capital Limited, which takes the firms overall insurance-linked securities (ILS) assets under management to over US $2.6 billion. SCOR Investment Partners agreed to acquire 100% of read the full article →

“Significant increase” in litigated Florida claims in Q1: United (UPC)

The litigation issue and resulting loss inflation and amplification continues for Florida homeowners' insurers, with the latest report from United Insurance Holdings (UPC Insurance) suggesting that the issue is worsening in 2021. United (UPC) reported on Friday that it has experienced a "significant increase in litigated claims volume from Florida homeowners’ read the full article →