Reinsurance News
retrocession
Markel CATCo raises over $2.3bn of fresh capital for 1/1
29th November 2017
Collateralized reinsurance and retrocessional investment fund manager, Markel CATCo Investment Management Ltd., has raised a huge $2.343 billion of new capital across its private and listed funds, placing the manager in a good position to meet demand at the key January 1st, 2018 renewals. Markel CATCo announced at the end ... Read the full article
Lutece Re begins Bermuda operations, focuses on retro
17th November 2017
Lutece Re has begun operating in Bermuda and plans to underwrite new business from January 1st 2018 with a near-term focus on retro. Erik Manning and Angus Ayliffe, both co-founders of Lutece Re and its affiliates will head up the management team. Lutece Chief Executive Officer, (CEO) Erik Manning, said the firm's ... Read the full article
Reinsurance and retrocession protection cost to increase: RBC Capital Markets
8th November 2017
Carriers could soon be ceding less risks as the cost of reinsurance and retrocession protection is predicted to increase for most market participants, following Q3 global market losses of an estimated $95 billion. Far higher pricing increases are predicted for retrocession than the reinsurance segment, although recent industry losses will be ... Read the full article
Retro market to drive top-down rate changes at 1/1, says Validus execs
1st November 2017
The re/insurance industry's heavy reliance on retrocessional capacity will drive a top-down market change for rates across affected business lines, with traditional reinsurers and primary players pushing for rate increases as retro pricing jumps sharply at January renewals, according to Validus Holdings' executives. "As we have described to you in the ... Read the full article
Roughly 40% of SCOR’s gross Q3 cat losses covered by retro
26th October 2017
France domiciled insurer and reinsurer, SCOR, made use of efficient retrocession protection to mitigate the impacts of high catastrophe losses in the third-quarter of 2017, however, the firm still recorded a pre-tax net loss of €598 million for the period. Global insurers and reinsurers have started to reveal their third-quarter and ... Read the full article
Guy Carpenter opens unit for Asia Pacific retrocession
29th June 2017
Guy Carpenter has announced the launch of a new unit, GC Asia Pacific Retro, offering retrocession services in the Asia Pacific region. The unit will link with Guy Carpenter's marine and aviation Global Specialties units in the region and provide retrocession property solutions, capital raising, and product and capacity development. Kevin Fisher, ... Read the full article
Markel CATCo CEO Tony Belisle extends contract to 2020
21st June 2017
Markel CATCo Investment Management Ltd. Chief Executive Officer (CEO) Tony Belisle will be extending his contract with the firm to the 31st December 2020 after which he'll transition to an indefinite rolling annual basis contract. Belisle, whose original contract would have expired by 31st December 2018, commented; "I am proud of ... Read the full article
Pool Re ups retro reinsurance protection to almost £2 billion
3rd March 2017
Pool Re, the UK government and industry backed terrorism reinsurance scheme, has increased the size of its retrocessional reinsurance program to almost £2 billion. In the last year Pool Re had £1.95 billion of retrocession in place, so the increase is not all that significant in terms of size, but it ... Read the full article
Asian reinsurance sector to become more competitive in 2017: Aon
25th January 2017
The Asian reinsurance market showed signs of stabilisation but continued to soften last year as new players vied for a market share and traditional players reinvented their game with start-ups, re/insurance broker Aon reported in its 2017 Asia review. Aon explained that reinsurance prices were beginning to bottom out but may ... Read the full article
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