Reinsurance

The car insurer, which has held quota share partnerships with Greenlight Re, entered receivership earlier this month.

Regulators need time to approve new information following the sale of Genworth MI Canada. 

The broader retro market is renewing up by 10-30 percent depending on loss experience and structure.

The deal will result in a $280mn gain for parent Fairfax.

A shift back to rated and occurrence structures is occurring as aggregate terms were heavily revised.

This week a clearer sense began to emerge of the likely shape of the 1.1 renewals.

The German insurer finally concludes the sale 18 months after it first brought the legacy portfolio to market.

The deal includes Security Life of Denver and Midwestern United.

Carrier seeks to mitigate regulatory risk around motor and is likely to cut US med-mal exposure.

The main disrupted segments are still aggregate retro and sidecar vehicles.

Over 20 houses have been destroyed as around 120 bush and grass fires burn across New South Wales.

For the most part, aggregate retro covers got hammered in 2017-2018 – but what isn’t as often discussed as these headline losses is the fact that one pocket of such capacity actually got away largely intact.