News

The Corporation’s chairman said that Names and other third-party capital are essential to maintaining the market’s unique nature.

Carriers have announced significant exposure reductions in the state this year.

Total losses for the year from April now exceed $3.5bn.

The business specialises in space and terror risks.

SCS accounted for nearly two-thirds of global first-half catastrophe losses.

The final report said the majority of the losses occurred on Kyushu Island with 74% of the total industry loss.

The InsurTech claims five former staff, including the CEO and CFO, forged signatures and impersonated bank staff.

The project which began last year in Zurich has now expanded to a group standing for $29bn of ILS assets under management globally.

A total of $386mn has been issued in private cat bond deals this year.

A Delaware judge has ruled in favour of Vesttoo’s automatic stay in the bankruptcy case.

Ola Jacob's role at Descartes will focus on expanding the firm's parametric insurance offering in the London market to corporates exposed to climate risks across the globe.

According to the National Hurricane Center, Lee made landfall at Long Island, Nova Scotia, on Saturday.

With winds speeds around 80mph, Lee is now a Category 1 hurricane but is still expected to be ‘a large and dangerous storm' by the time it reaches New England and Canada.

The Official Committee of Unsecured Creditors is turning the spotlight on Vesttoo’s current board and management.

Total cat bond lite issuance this year has reached $370mn, according to Trading Risk’s tracker

Gallagher Re has stated that the alternative capital market has increased by 4%.

The additional funding brings Kin’s series D total to $142mn, and its overall equity funding total to $265mn.

The private equity firm is targeting $1trn in assets under management for the combined segment.

His role change — following that of LCM leader Darren Redhead in 2021 — raises questions over the firm’s future ILS strategy.

Slow weakening is forecast during the next few days, but Lee is likely to remain a large and dangerous hurricane into the weekend, the update noted.

Frontier’s employees, including director and co-founder Peter Brodsky and CEO Derek Winch, will remain in their current roles.

European and Bermudian reinsurers are expected to be the most favorably affected by the current environment.

Data from the broker indicated that around 70% of global losses were driven by SCS, with events in the US causing $35bn of insured losses over H1.

The founding members include Munich Re, Gallagher Re, and BitSight.