ILS
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Fontana 2.0 will encompass a more flexible investment strategy than the 2022 vehicle. -
The carrier is looking to latch onto emerging economic trends where it can add expertise.
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The business is pursuing growth in Bermuda in captives, cyber ILS and alternative risks.
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Improved performance and growing investment returns played a role in the upgrade.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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The sidecar will support five programs providing specialty frequency coverages.
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The syndicate is targeting capital allocation for 1 January, the company confirmed.
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Hannover Re Capital Partners is in talks with two investors for 1 January launch.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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The man is alleged to have conspired with others to falsify LOCs and collateral letters.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.
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Being the “new kid” has created interest in the market, Mereo CEO Croom-Johnson added.
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Erik Manning is joining the business from BMS as head of ceded reinsurance.
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Recent transactions on the platform include cat bonds from Flood Re and Brit.
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The firm also promoted Devin Inskeep to an expanded role as SVP, head of ratings and advisory.
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Bolding will focus on aligning Gallagher Securities with Gallagher Re.
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Theo Norris joins from Gallagher Re, which brokered one of the first 144A cyber cat bonds.
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The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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In line with Milton’s moderate forecast loss, the ILS market reaction will be less influential in post-event dynamics.
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Changes to the categorisation and oversight of managing agents seek to reduce duplication and thereby cut costs.
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Cat bond funds have been attracting inflows while confidence is patchier across collateralised re.
