Specialty risks
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The mortgage insurer last closed a similar deal more than two years ago.
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The £50mn syndicate made most of its profits in aviation.
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Cedants are grappling with rising rates while coverage narrows.
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CEO Rob Berkley said the company would likely participate in the space for one to three years if rates remain favorable.
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Envelop anticipates that cyber ILS could hit $100mn of GWP within four years
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The agency highlighted potential aviation losses from the war ranging from $6bn to $15bn.
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The company hired Ambac’s Scott Snyder as president of fronted programs.
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The rebrand follows a last-minute acquisition of the firm by Aquiline-owned Lloyd’s syndicate ERS, in December of last year.
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The ILS vehicle has support from four key providers and will be launched alongside a broader offering including K&R, fine art and other specialty risks.
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The asset manager’s survey finds increased investor appetite for opportunistic debt and equities, and private assets.
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The European (re)insurance supervisor said correlation to financial market risk made the idea a challenging one while reinsurance appetite is also very limited.
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The permitted growth has accelerated from a 7% increase moving from 2019 to 2020.
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Suncorp, IAG and QBE reinsurers could face significant recoveries after a landmark court ruling.
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The carrier’s annual catastrophe losses ticked up to $2.9bn in October.
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The president and CEO urges wordings precision to avoid cyber-related litigation.
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The business will be known as SiriusPoint and led by ex-AIG CFO Sid Sankaran, who will become chairman and CEO.
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Ex-Novae deputy CUO to become active underwriter at Syndicate 2358.
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The asset manager said it would also be impacted by a slowdown in auto insurance premiums.
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The firm will consider writing more retro after raising $300mn new equity.
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CAC Specialty aims to bring structured finance solutions with insurance broking capabilities.
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On sweltering weeks like this, you can see why climate change has become a talking point that every ILS manager has to cover in their pitch for new investor mandates.
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Marvin Pestcoe replaces Craig Fowler who was appointed CEO of the start-up in March.
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