ILS
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The sidecar Reinsurance Risk Premium Interval Fund gave investors around a quarter of the sums requested.
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The partner’s pricey, scaled-down reserves deal leaves questions about the impact on Maiden’s capital unanswered.
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The executive expects AlphaCat to become an increasingly compelling part of the Validus purchase.
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The move will be put to shareholders of the London-listed Catco Reinsurance Opportunities fund later this month.
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A lower catastrophe loss burden helps offset a $76.2mn reserves hit.
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The $54mn ILS issue follows the city state’s introduction of a grant scheme for the securities a year ago.
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Julian Enoizi, who was instrumental in bringing the £75mn Baltic Re terrorism cat bond to market, said using ILS for an exotic risk was “a long journey”.
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Adverse development and a withdrawal of capacity are expected to lead to increased pricing for loss-affected Latin American accounts.
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CEO Masojada calls the London market business, with a combined ratio of 89.3 percent, the "standout performer".
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The Eurekahedge ILS Advisers index posted its worst December performance on record.
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Baltic Re will provide coverage for Pool Re’s losses between £500mn and £700mn.
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Andy Corton will join the carrier’s marine operation.