third party liability

There is growing optimism in the insurance-linked securities (ILS) market over the potential for subrogation claims against ERCOT related to February 2021 winter storm and Texas freeze losses to reduce exposure to the event, according to AM Best.

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has recovered more value for its investors, with favourable development related to 2017 and 2018 catastrophe loss events.

Subrogation recoveries related to the February 2021 winter storm and Texas freeze losses are now being seen as increasingly possible, perhaps even likely, by our sources in reinsurance and insurance-linked securities (ILS) markets, as a lawsuit has been filed against ERCOT and many expect that some kind of payout will be the end result of […]

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has reported another increase in net asset value (NAV) after loss reserves saw more favourable development.

Electrical utility Sempra Energy looks set to secure its third slice of catastrophe bond backed wildfire insurance protection at the minimum targeted issuance size of $180 million, while pricing for its new SD Re Ltd. (Series 2021-1) transaction is on-track to settle at the mid-point of guidance.

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has again seen its net asset value (NAV) rise after another reduction in catastrophe loss reserves, this time from the 2018 California wildfires.

Electrical utility Sempra Energy is back in the catastrophe bond market with what will be its third issuance and this time it is seeking a larger, perhaps $180 million or bigger, SD Re Ltd. (Series 2021-1) transaction.

California based utility the Los Angeles Department of Water and Power (LADWP) has finally secured $30 million of wildfire insurance cover from its second catastrophe bond issue, after the Power Protective Re Ltd. (Series 2021-1) deal was priced at the raised coupon level.

Demonstrating that catastrophe bond funds and investors won’t buy into risk at any cost, we’re told that the second California wildfire cat bond from the Los Angeles Department of Water and Power (LADWP), the still unsized Power Protective Re Ltd. (Series 2021-1), has seen its price guidance rise considerably.

The retrocessional reinsurance investment portfolio constructed by Markel’s CATCo Investment Management is continuing to develop more favourably than had originally been expected, with the firm reporting a reduction of claims in relation to catastrophe events from 2017.