Bermuda
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The carrier has renewed and extended its capacity arrangement with the MGA. -
Improved performance and growing investment returns played a role in the upgrade.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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The company will continue its capacity partnership with the MGA until 2030.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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The move comes as the broker rebuilds its Bermuda team.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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Alessa Quane will report to Sompo P&C CEO James Shea.
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The deal marks the latest step in Catalina’s shift from P&C to life run-off.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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The business said it was experiencing strong momentum on the Island.
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The affirmations reflect Everest’s strong underwriting diversification.
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The tech firm is building a joint stock company with insurers and investors.
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Bill Bouvier has spent more than three years at the legacy firm in this role.
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The syndicate will be targeting approximately $50mn of GWP in its first year.
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The broker’s joint venture with Bain Capital still lacks a CEO.
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The private ILS segment took losses from LA wildfires and Mid-West severe convective storms in H1 2025.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The company, however, sets a high bar on making a move.
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The post-disaster reinsurance start-up model is changing.
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Tim Barber joins from QBE Re, where he was head of North America.
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Skyward’s acquisition of Apollo will provide access to the London Bridge framework.
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The executive most recently served as head of North American treaty reinsurance.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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Signs of discipline indicate a “break” from past boom/bust market cycles.
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The Japanese carrier faces integration challenges to make a success of the deal.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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James River said the court was right to dismiss the fraud case.
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Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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Angus Hampton, meanwhile, has been promoted to head of casualty in place of Mario Binetti.
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The lawsuit has been filed as sales talks with Sompo yielded a deal.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The Japanese carrier has agreed to buy Aspen for a realization of $3.5bn.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
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This publication first reported deal talks last week.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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Hagood will stay on as sole CEO of Nephila Holdings, with Taylor continuing as president.
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The Bermudian reiterated its pledge to improve performance.
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Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence.
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This publication revealed yesterday that the two were in detailed takeover talks.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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Net adverse development for the quarter increased 30% year on year to $89.2mn.
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Company alum David Murie will lead the new business unit.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
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The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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The carrier reported an increase of 82% in pre-tax income.
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The move will impact around $50mn of gross written premiums in total.
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Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
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CEO Alex Maloney said Lancashire’s growth was “more measured” amid softening.
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The loss was driven by nat cats and reserve adjustments in US casualty.
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The carrier said most lines remained well priced despite increased competition.
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The company has also expanded its relationships with US and UK MGAs.
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The carrier also benefitted from favourable reserve development in property and A&H.
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Cat portfolios generally grew, but casualty approaches varied.
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Nadia Beckert was promoted to Bermuda CUO in March.
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Aviation reinsurance reserving issues will also be a broader focus for the market.
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Specialty casualty now accounts for around 22.2% of its insurance business mix.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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Everest booked $98mn of aviation losses related to the war, which contributed 2.5 points to the consolidated CoR.
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The Bermudian said its pursuit of SMEs through M&A will provide sustainable improvements to its bottom line.
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Pricing was “virtually flat” in the second quarter.
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The CEO said business remains adequately priced in most classes.
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The carrier is reducing its exposure to quota shares and shifting to XoL.
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The carrier said market dynamics were shifting due to increased capacity.
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The loss ratio rose 1.9 points to 53.1%, while the expense ratio ticked up 0.6 points to 28.1%.
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The carrier had $20mn in reserve releases in the quarter, compared to nil in Q2 2024.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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The broker has recruited from its rival as it looks to launch Willis Re 2.0.
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Wind season remains an important variable, but also might not change current dynamics significantly.
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Jill Beggs was most recently COO for reinsurance.
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The property segment reported a CoR of 27.4% for the quarter, down 26.5 points year on year.
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Last year, the firm obtained a Class 4 license in Bermuda.
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Andrew Creed has been promoted to group president in addition to his role as group CFO.
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Luke Tanzer is set to retire after 16 years at the helm of the run-off carrier.
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The claims specialist spent 30 years at Amlin before joining TFP.
