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The EU’s chief insurance supervisor advocates adding on pandemic to existing national schemes.
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The European (re)insurance supervisor said correlation to financial market risk made the idea a challenging one while reinsurance appetite is also very limited.
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The move follows Fidelis’ decision to hand back $275mn it had raised for a retro vehicle.
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The total increase to the Bermudian firm’s AuM will be “tempered” at the start of the year due to timing of allocations, cat losses and side pocketing. -
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Former Securis' executive Neil Strong joins arrivals including Lancashire’s Chris Wilkinson as a second head of specialty and Talbot PV specialist Dan Callow.
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RenRe said it had “ample dry powder” even after fully deploying its $1.1bn 2020 capital raise.
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The CEO said the French reinsurer will avoid court cases where possible in pandemic coverage disputes.
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Alternative capital providers have benefited alongside the “class of 2020” with post-pandemic growth, as specialist ILS assets grew 3.7% in the half year to 1 January.
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The retro and specialty vehicle launch comes as PartnerRe expands in retro and ILS.
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Ascot will provide the reinsurance support for the index-based crop products.
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The new capacity for the sidecar first launched in 2019 will be invested solely in EBRD bonds.
