Retrocession
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The reinsurer has secured $60mn of protection against named storms and earthquakes in the US from the capital markets. -
Gregory Murphy said there needs to be greater understanding of reinsurers’ credit risk.
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The 1 July placement is an addition to the scheme’s main £2.3bn programme.
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Sources pegged the firm’s UNL retro purchase at around $150mn.
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A significant increase in demand is being met by constrained supply at current pricing levels.
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The Akibare Re bond will pay out to Mitsui Sumitomo, sister publication Trading Risk revealed.
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Majority of Florida firm order terms hit the market, but many participants think capacity shortfalls are likely at current price levels.
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CEO Bronek Masojada said the company is growing in the right areas.
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The collateralised capacity from Turing Re will support the reinsurer’s property treaty reinsurance portfolio.
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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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LGT led the way with its rated start-up Lumen Re.
