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CATCo retrocession fund NAV’s leap on more favourable development

The CATCo retrocessional reinsurance investment portfolio appears to have had yet another major boost to its value on the back of additional favourable development related to the 2018 catastrophe loss year. Over the last few months, the stock exchange listed Markel CATCo managed retrocessional reinsurance investment funds have reported multiple cases read the full article →

CATCo funds to benefit from another release of trapped capital

The CATCo retrocessional reinsurance investment portfolio continues to benefit from favourable development on reserves, with the manager expecting yet another release of side pocket investment capital later this year, which it expects to buy back more shares with. In recent months, the CATCo retrocessional reinsurance investment funds have reported multiple cases read the full article →

Nephila cat premiums rise, AuM relatively flat at $8.5bn, revenue falls on MGA sale

Markel’s flagship insurance-linked securities (ILS) fund management operation Nephila Capital saw another significant rise in catastrophe reinsurance premiums underwritten during the second-quarter of 2022. Markel has been channelling an increasing volumes of catastrophe exposed property business through the reinsurance vehicles owned by insurance-linked securities (ILS) manager Nephila Capital, after a strategic read the full article →

CATCo funds report multi-year favourable side pocket development

The CATCo retrocessional reinsurance investment portfolio has continued to experience favourable development against prior loss year side pockets, with additional value recovered in April. Last time we covered the in run-off CATCo retro reinsurance investment funds, they had disclosed some favourable development against loss reserves from the 2019 underwriting year. Now, the read the full article →

Russia-Ukraine aviation losses at WTC+ level may impact retro & sidecars

It's becoming increasingly clear that losses to the aviation class of insurance and reinsurance business caused by the Russia - Ukraine conflict have the potential to impact retrocessional covers and perhaps some third-party capitalised sidecars. The potential for some specialty lines insurance and reinsurance market exposure to the fallout of Russia's read the full article →

CATCo funds report favourable development on 2019 year side pocket

The CATCo retrocessional reinsurance investment portfolio experienced more favourable development on a side pocket set for the 2019 underwriting year before its final winding down and distribution of the remaining capital to investors was complete. The buy-out schemes for the Markel CATCo managed retrocessional reinsurance investment funds closed at the end read the full article →

Markel off-risk for cat, but opportunity for Nephila significant: Whitt

Markel Corporation is now officially "off-risk" for property catastrophe reinsurance, as of the end of the first-quarter of 2022, according to its Co-CEO Richie Whitt. Back in 2020, Markel announced that Nephila Capital, its flagship dedicated insurance-linked securities (ILS) and reinsurance linked investment fund manager, would become the single point of read the full article →

CATCo run-off process could continue into 2023 for Markel

With the CATCo retrocessional reinsurance investment funds buyout now completed, owner Markel and the remaining former-Markel CATCo team can concentrate on running-off the remainder of the portfolio, a process that could continue into 2023. The buy-out schemes for the Markel CATCo retrocessional reinsurance investment funds closed at the end of March read the full article →

Nephila assets slip to $8.6bn, but program cat premiums soar

Assets under management at Markel’s flagship insurance-linked securities (ILS) operation Nephila Capital declined slightly during the first-quarter of 2022, ending the period at $8.6 billion. That's down $200 million from the end of 2021, but as we explained earlier today Markel felt a significant contribution from the value created by Nephila read the full article →

Bermuda SPI’s and collateralized insurers reminded on Russia-Ukraine

The Bermuda Monetary Authority (BMA) has issued a call for insurance-linked securities (ILS) vehicles domiciled on the island to adhere to international sanctions related to the ongoing conflict between Russia and Ukraine and to disclose any relevant information or impact related to it as it continues. With international sanctions being layered read the full article →