retro

Markel Group continued to benefit from returns of value due to favourable loss development on the CATCo retrocessional reinsurance portfolio in the second-quarter of 2024, taking the total for the first-half to $24.1 million.

Bermuda-based reinsurance and third-party capital manager RenaissanceRe believes it stands better protected for hurricane season, with reduced exposure to smaller events and a portfolio that has been shaped with the help of Capital Partners vehicles, including an increased use of Upsilon, as well as more retrocession purchased.

NormanMax Insurance Holdings, the US based parametric insurance and reinsurance group launched by former Universal founder and CEO Bradley Meier, has begun offering a parametric retrocession product that is underwritten via its recently launched Lloyd’s syndicate.

SCOR, the France-headquartered global reinsurance company, continues to build out its risk partnership and third-party capital capabilities, with the latest hire to come to light being Tony Nguyen, an experienced insurance-linked securities (ILS) structuring and investment banking executive who joins the reinsurer from Goldman Sachs.

SCOR, the France-headquartered global reinsurance company, has promoted longstanding retrocession and third-party capital partnerships executive Benoît Liot to the new role of Head of Risk Partnerships, which will see him lead on activities with third-party investors, while retrocession will be centralised beneath his leadership.

Executives from global reinsurance firm Hannover Re said today that there is no sign of new capital in the reinsurance market aside from through the catastrophe bond sector and some unlocked trapped collateral, and also discussed the Baltimore Bridge collapse saying that retrocession recoveries are anticipated.

RenaissanceRe secured additional retrocessional protections at the 1/1 renewals this year, ceding more in the way of its property catastrophe premiums than it had a year earlier.

Markel has once again benefited from a return of value due to favourable loss development on the CATCo retrocessional reinsurance portfolio, booking a further $15.7 million in the first-quarter.

The net asset value of the two share classes of the CATCo Reinsurance Opportunities Fund rose by over 61% across the course of 2023, as the investment manager Markel CATCo continued to unlock more value from the fund’s run-off for its investors.

German reinsurer Hannover Re has today reported an inflation and risk-adjusted price increase on renewed business of 2.3% at the January 1st, 2024, renewals, as the firm took advantage of greater demand for protection, growing its portfolio 6.9% to more than EUR 10.2 billion.