Arch Capital
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Early reporters emphasised an ongoing demand for structural change. -
Arch’s estimate is commensurate with a range of expected insured losses across the global P&C industry of $50bn to $60bn.
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Ratings agencies suggest that carriers must do better on controlling volatility – but diverging risk appetites give the lie to the idea that the industry is walking away from risk.
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A New Jersey judge writes a scathing decision criticizing hospitality firms for attempting to claim physical damage from virus and misinterpreting policy language.
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The executive joined the company in 2010.
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Underwriting profits soared by 66% to $174mn, with a $234mn underwriting gain in mortgage outweighing losses in insurance and reinsurance.
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The (re)insurer pegged industry losses from Ida at $30bn and increased its share buyback program to $1.5bn.
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Sources told Trading Risk that a different kind of investor was interested in ILWs compared with retro cat bonds.
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In the last round of marketing, the firm said it would lift the principal to $125mn-$150mn after initially seeking just $100mn.
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It will be the insurer’s first foray into the cat bond market.
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The coverage was obtained by issuing approximately $523mn in bonds and $93mn in direct reinsurance.
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The deal is the carrier’s fourth ILS transaction of 2020.
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