fronting

Obsidian Insurance Holdings, Inc., a recently launched program and fronting insurance holding company, has announced the A- A.M. Best rating of its excess and surplus (E&S) lines carrier.

The opportunity to takeout insurance policies from Florida’s Citizens Property Insurance Corporation may return once again, as the insurers portfolio is expanding faster than it expected and it feels some of the book may be attractive.

Global reinsurance firm Hannover Re has been quietly expanding its activities in the insurance-linked securities (ILS) space for some time, as a key facilitators for collateralised transactions and acting as a front for certain ILS funds and investors.

SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, has raised fresh capital for its insurance-linked securities (ILS) strategies in the first-half of 2020, lifting its ILS assets managed to $2.4 billion.

Praveen Reddy has been promoted to Chief Operating Officer of Velocity Risk Underwriters LLC, the managing general agency (MGA) operation of reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital.

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.

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.

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.

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.

Fronting insurance holding company Obsidian has announced the hiring of program underwriting specialist Dan Larkin as the firms new Chief Underwriting Officer.