run-off

In a major deal that is similarly structured to the landmark Lloyd’s Central Fund reinsurance arrangement from 2021, legacy acquisition focused Lloyd’s specialist underwriter RiverStone International, has secured $305 million of multi-year collateralised reinsurance, with funding led by investment bank JP Morgan and transacted via a White Rock cell structure.

The New Zealand Superannuation Fund (NZ Super Fund), one of the government pension investment providers, has once again grown its investments linked to insurance and reinsurance over the past year, with an increase in allocation evident across all of the strategies it invests in.

Inver Re, the global reinsurance brand of the Ardonagh Group, has announced a new Legacy Solutions unit, with the hire of former Enstar CFO Guy Bowker and hints at a capital agnostic approach that could make use of alternative capital, where solutions demand it.

R&Q, or Randall & Quilter, the non-life insurance and reinsurance legacy, run-off and program management specialist, has reported earning $9 million of fee income from its legacy insurance focused collateralised reinsurance sidecar, Gibson Re.

Bermuda domiciled re/insurance, run-off and legacy specialist Enstar Group is eliminating its exposure to catastrophe risks with a shuttering of its joint-venture reinsurer, Enhanzed Reinsurance Ltd. (Enhanzed Re).

Rating agency AM Best has said that it expects the ownership of the Guernsey based, Credit Suisse Insurance Linked Strategies supported reinsurance company Kelvin Re Limited will change, which suggests a sale of the reinsurer to a run-off specialist, or perhaps another buyer, is close.

William Spiegel, Executive Group Chairman of Randall & Quilter (R&Q) Investment Holdings, said this morning that insurance-linked securities (ILS) markets are a target for the firms growing program management business.

Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers, has now been sold to European property and casualty (P&C) run-off specialist company Marco Capital Holdings Limited.

The New Zealand Superannuation Fund (NZ Super Fund), one of the government pension investment providers, has added to its insurance and reinsurance linked investments again in the last year, with a doubling of its allocation to investment manager Elementum Advisors, seemingly all in catastrophe bonds.

For Randall & Quilter (R&Q) Investment Holdings, the launch of its first collateralised reinsurance sidecar vehicle today is not about changing the “recipe book”, meaning the firm’s core area of focus in the legacy space remains, according to William Spiegel, Executive Chairman of R&Q.