Retrocession news

Conduit Re, the reinsurance company that is looking to raise $1.1 billion with a London Stock Exchange listing and launch in Bermuda, has retrocession, industry-loss warranties (ILW’s) and also collateralised business within its sights.

France headquartered global reinsurance company SCOR has reported its Q3 results today and revealed that, despite the high frequency of natural catastrophe claims in the United States, the reinsurers nat cat ratio stands under budget.

There is just one week to go until Prospectus 2021 – the new annual reinsurance and insurance-linked securities (ILS) conference brought to you by Artemis in collaboration with sister title Reinsurance News.

RSA Group, the UK based general insurance company, said today that it has exhausted the retention under its aggregate reinsurance program, meaning that any major catastrophe loss events in Q4 will fall to its reinsurance panel.

Lancashire Holdings, the specialty insurance and reinsurance group with a third-party capital management platform, is increasingly seeing new business flows that meet its return requirements across a range of business lines, in particular benefiting from growth across property catastrophe reinsurance, property direct and facultative, the company said this morning.

Catastrophe risk modeller RMS has now weighed in with its estimate of insurance and reinsurance industry losses likely to come from recent hurricane Zeta’s impacts to the United States and it’s a little higher than other modeller estimates.

Catastrophe risk modeller AIR Worldwide estimates that hurricane Zeta’s onshore wind and storm surge insured losses in the United States will be less than $3.5 billion, with the bottom-end of its range far lower at $1.5 billion.

Highlighting the truly exceptional level of severe weather and natural catastrophe activity in 2020 so far, Property Claim Services (PCS) has already designated a record number of PCS Catastrophe events, with just over two months of the year left to run.

Ariel Re, a reinsurance unit of Argo Group, is to be acquired by private equity investors and former CEO Ryan Mather will return to run the company, with a focus on leveraging traditional and alternative capital, as well as a property catastrophe leaning.

Hurricane Zeta’s wind and storm surge impacts on Mexico and the United States are expected to cost the insurance and reinsurance market close to $4.4 billion, according to an early estimate from Karen Clark & Company.