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August 2017/4

  • Insurance-linked securities (ILS) managers and reinsurers for Florida insurer Heritage and northeast US specialist Narragansett Bay are facing a reduction in spending by the companies following their anticipated merger next year.
  • City National Bank subsidiary City National Rochdale has started marketing a new fund that will seek investments related to industry loss warranties (ILWs).
  • Markel Catco escaped significant losses in the first half of the year to provide a 3.94 percent return for ordinary shareholders in the Catco Reinsurance Opportunities Fund, the company said in an interim financial report.
  • Underwriting margins widened in global reinsurers' P&C reinsurance divisions in the second quarter of 2017, as a benign level of catastrophe losses relaxed combined ratios.
  • The Insurance Insider's group of global reinsurers posted contrasting top line strategies for their P&C reinsurance divisions in the second quarter, as some chose to scale back their exposure while others found growth opportunities.
  • In the second quarter US commercial auto rates registered their highest rate increase since they started hardening in 2011.
  • Hub International may be worth more than 14x Ebitda if a report suggesting the US broking giant could carry a hefty $7bn price tag is to be believed.
  • Robust risk management frameworks will be vital for reinsurers writing mortgage risk transferred by Freddie Mac and Fannie Mae, as returns on the business come under pressure in the coming years, according to S&P Global.
  • As Washington's fiscal clock ticks down to zero and the National Flood Insurance Program (NFIP) faces the end of its legal life next month, efforts to compel lawmakers to renew and reform the federally subsidised coverage have taken on fresh urgency.
  • Ed CEO Steve Hearn has had exploratory meetings with a number of private equity funds as signs grow that Lightyear Capital will move to exit its position at the broker inside the next 12 months, The Insurance Insider can reveal.
  • The bidding process for Novae's legacy book could trigger a string of early or single-book reinsurance-to-close (RITC) deals at Lloyd's, as the Corporation widens the scope of RITC transactions it is willing to consider.
  • Randall & Quilter (R&Q) is in exclusive discussions with ProSight around a deal to take on the obligations of its now-defunct Syndicate 1110, The Insurance Insider can reveal.
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