ILS

New York-headquartered private equity house Centerbridge is in advanced talks to acquire Sompo Canopius as part of a management buyout (MBO) of the Lloyd's (re)insurer, The Insurance Insider can reveal.

Third Swedish National Pension Fund (AP3) has confirmed it was a lead investor in the World Bank's pandemic cat bond.

A World Bank-backed $206mn catastrophe risk insurance programme has been launched in the Philippines to help the country better respond to losses from severe weather, earthquakes and other natural disasters.

Upping the offer by 5p a share when there's no counterbid on the table might look odd to outside observers, particularly given the earnings miss published by Novae earlier this month.

Mitsui Sumitomo's $1.6bn acquisition of Fairfax's First Capital has demonstrated that the Japanese carrier is willing to pay a substantial price for deals which could foster fruitful strategic partnerships, rather than immediately transforming its earnings profile.

Axis Capital has attempted to "bring certainty" to its effort to buy Lloyd's insurer Novae by raising its agreed offer by 2.1 percent.

Damage from Hurricane Harvey’s 130mph winds at landfall near Corpus Christi, Texas is likely to produce insured losses of $1.2bn to $2.3bn, including the storm surge of as much as 12 feet, AIR Worldwide forecast in an estimate that excluded flood damage from the storm’s drenching rains.

Modelling firm Karen Clark & Company has predicted that wind damage from Hurricane Harvey, which is currently barrelling towards the Texas coast, could cost the industry $2.7bn.

QBE North America's chief actuary, Leigh Oates, has resigned from the insurer to join Bermudian run-off start-up Premia Holdings, The Insurance Insider can reveal

Fairfax chairman and CEO Prem Watsa is famed for his amicable, cosy deal-making skills, but usually it's when he's trying to buy something

Insurers are facing the prospect of Harvey making landfall in Texas as the first major hurricane of the 2017 Atlantic storm season.

Canadian conglomerate Fairfax Financial will retain a 25 percent quota share on First Capital's existing and future business as part of its agreement to sell it to Mitsui Sumitomo Insurance (MSI), president and CEO Prem Watsa confirmed today