Retrocession

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CATCo listed fund NAV’s continue rise, but shares priced far below

On a net asset value (NAV) basis, the CATCo Reinsurance Opportunities Fund continued to deliver positive NAV returns in July, but at the same time the share price continues to languish, as much as 135% below their net asset value in the case of one class.Of course, the CATCo Reinsurance read the full article →

Firm reinsurance rates to persist through January 2020 renewal: Fitch

The firm(er) reinsurance market conditions seen of late are expected to persist through the key January 2020 renewals, according to analysts at Fitch Ratings.As a result, Fitch expects that reinsurers will boost their capitalisation and put it to good use, through the retention of more capital in the near term read the full article →

CATCo 2019 deals show 6% H1 return, but new side pockets needed

Despite the fact it is set for run-off it is interesting to note that the 2019 portfolio underwritten for the CATCo Reinsurance Opportunities Fund has delivered a 6% net asset value return in the first-half of the year to one class of shareholders.The CATCo Reinsurance Opportunities Fund is being wound read the full article →

AXIS Re hires Gino Smith to lead EMEA LatAm property reinsurance

Axis Re, the reinsurance arm of global re/insurer AXIS Capital Holdings Limited, has announced the hiring of Gino Smith from XL Re, as the firms new Head of Property EMEA LatAm.Gino Smith will take on the role of Head of Property for EMEA LatAm at AXIS Re as of November read the full article →

Markel CATCo begins listed retro ILS fund buy-backs

A schedule has now been set for the beginning of the share buy-backs for the listed retrocessional reinsurance investment fund operated by Markel CATCo Investment Management, with a portion of the shares of the CATCo Reinsurance Opportunities Fund set to be repurchased in September.The Board of the Markel CATCo exchange read the full article →

Everest Re cedes more premiums, fewer losses to Mt. Logan Re

The amount of losses that insurance and reinsurance group Everest Re ceded to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle have almost halved so far in 2019.Reflecting the continued recovery from the major catastrophe losses of 2017 and 2018, Bermuda headquartered Everest Re has not needed to pass read the full article →

Everest Re adds aggregate retro, Doucette calls Mt. Logan Re “core”

Everest Re sees its Mt. Logan Re Ltd. collateralized reinsurance sidecar like vehicle as a core piece of the firm's strategic catastrophe risk management, but the company is not looking to grow Mt. Logan Re just for the sake of growing, according to John Doucette.Everest Re has a multi-capital approach read the full article →

Markel won’t try to emulate CATCo, committed to ILS

Markel Corporation has no intention of emulating the well-known CATCo retrocession products within the new retro insurance-linked securities (ILS) platform the firm intends to launch for the end of the year.As revealed last week, the Markel CATCo unit and investment funds are now set to be wound down and capital read the full article →

Nephila Capital revenues help offset CATCo costs for Markel

Revenues earned through the operations of its insurance-linked securities (ILS) manager Nephila Capital have helped to offset costs related to Markel CATCo in the second-quarter and first-half of the year for owner Markel Corporation.Revenue contributions to Markel are now being fully reported for the activities of the Nephila Capital ILS read the full article →

Further Jebi loss creep may impact RenRe’s retro portfolio: CEO O’Donnell

If the loss creep linked to Japanese typhoon Jebi continues it has the potential to impact RenaissanceRe's retrocessional reinsurance underwriting book, according to the firms CEO.Kevin O'Donnell, the CEO of Bermuda headquartered reinsurance firm RenaissanceRe (RenRe), explained during his firms recent quarterly earnings call that the potential for further development read the full article →