June 2018/4

No sooner do we start saying that the specialty P&C public company is a dying breed than Sirius decides to reverse itself into a US listing.

The Bermuda-based firm had $500mn of ILS under management in 2017.

The total for the year stands at $798.56mn.

The latest issuance includes European windstorm, as well as US wind and quake.

Corporate bond holdings also increased, as carriers shied away from covered bonds.

The direction and timing of the missive feels right - let's hope Lloyd's tackles syndicates' other issues with the same gusto.

The financial services company may look to gain a credit rating for the Bermuda-based vehicle.

Lawmakers approve an amendment that lightens restrictions on commutation and voluntary restructurings.

A tougher stance from local markets means brokers are having to work hard to place their property D&F accounts, sources said.

Looser wordings in standalone cyber insurance mean the product is moving beyond what it was originally designed for, and could introduce systemic losses to the market, sources said.

Reverse merger will leave reinsurer with Nasdaq listing and implied market cap of $2.2bn.