run-off

Executives from Enstar, one of the largest legacy and run-off reinsurance specialists in the world, told Artemis that they are seeing strong interest for its solutions from the insurance-linked securities (ILS) funds sector, as managers seek mechanisms to provide liquidity to their investors.

At the Insurance & Reinsurance Legacy Association (IRLA) annual Congress event held in Brighton today, speakers highlighted the opportunity to innovate alongside the insurance-linked securities (ILS) market and sources of alternative capital, to provide solutions to aid in exit liquidity and support casualty ILS transactions.

Enstar, the legacy and run-off reinsurance specialist, has said that it acquired a Bermuda based Class 3B reinsurer in its most recently announced legacy transaction focused on property insurance-linked securities (ILS), for approximately $46 million.

HP Reinsurance SPC Ltd. (HP Re), a Cayman Islands based reinsurer established by North Carolina investment adviser Hale Partnership Capital Management, has entered into a transaction with ILS manager Elementum Advisors that saw HP Re assuming a portfolio of business written between 2020 and 2022.

Enstar, the legacy and run-off reinsurance specialist, has announced completion of its second legacy transaction focused on property insurance-linked securities (ILS), acquiring a Bermuda based Class 3B reinsurer that underwrote business on behalf of third-party investors.

Enstar, the legacy and run-off reinsurance specialist, has developed a flexible finality solution for insurance-linked securities (ILS) investors. With the Forward Exit Option (FOE) already put to work in a recent transaction, Anguel Zaprianov explained to Artemis in an interview that its application potential is broad.

The New Zealand Superannuation Fund (NZ Super Fund), one of the government pension investment providers, has reported an impressive 12.6% return from its investments into natural catastrophe reinsurance through catastrophe bonds and other insurance-linked securities (ILS) in the last year of record.

The casualty insurance-linked securities (ILS) market has been growing and PwC highlighted this at events in Monte Carlo at the Rendez-Vous this week, saying that it is an area for the legacy reinsurance and ILS sectors to collaborate.

R&Q Insurance Holdings Ltd. has this morning confirmed that it is filing for a provisional liquidation in Bermuda, raising questions over the future of its collateralised legacy sidecar vehicle Gibson Re.

Marco Capital Holdings Limited, a European property and casualty (P&C) run-off specialist, has merged Guernsey based, former Credit Suisse ILS reinsurers Kelvin Re and Humboldt Re under the new brand Marco Re, following approval from the Guernsey Financial Services Commission in December of last year.