ILS
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The combined ratio improved to 104.1 percent.
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The carrier, led by chairman and CEO Bertrand Labilloy, says 157 Re paves the way for a Paris ILS market.
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The plan for Catco Reinsurance Opportunities garners near-unanimous investor approval.
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At today’s pricing, most property cat is still a good write for a vast pool of non-insurance capital.
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The forecast compares with Raymond James' estimate of rate increases of up to 15 percent on loss-affected business.
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StarStone leads the hydroelectric claim, which follows last year's Ituango Dam disaster.
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LGT led the way with its rated start-up Lumen Re.
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The insurer has grown ILS revenues from zero to $92mn in five years.
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In a comparison that you should only attempt if you have a French accent, Scor chairman and CEO Denis Kessler once quipped that traditional reinsurance was the wife of the insurance world, while ILS was the mistress.
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Countering the increased demand for public reinsurance, Demotech is seeking to require more overall coverage.
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CEO Paresh Patel said the carrier is already buying cover for a greater than one-in-100 return period.
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The new executive board member fills a vacancy left by the late Jürgen Gräber.