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Independent broker and managing general agent BMS agreed on 21 May to sell a minority shareholding to US buyout firm Capital Z for $50.7mn, giving it capital to finance its growth plans and purchase stock from former employees.
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Former Alterra reinsurance chairman Tom Wafer and fund manager Golub Capital are working on a reinsurance start-up, in fresh evidence that broad-based softening of the reinsurance markets is not deterring alternative asset managers
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Former Alterra reinsurance chairman Tom Wafer is working on a reinsurance start-up with fund manager Golub Capital, The Insurance Insider can reveal.
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Softening market conditions pressured top-line growth for global P&C reinsurers in the first quarter of 2014, according to analysis by The Insurance Insider's Data Room.
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Global reinsurers' underwriting performance deteriorated modestly in the first three months of 2014, as combined ratios across the group widened following a period of softening rates
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Two Japanese insurers have launched new low-yielding cat bonds, while veteran ILS sponsor USAA is offering prospective investors a higher risk-return aggregate deal
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RenaissanceRe is seeking a major new hedge for its Florida portfolio through the purchase of an indemnity retrocession cover providing up to $275mn of limit above a $75mn deductible.
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The New York Metropolitan Transportation Authority (MTA) has brought new capacity from Berkshire Hathaway, Nephila and other alternative markets onto its cat cover in a move that is expected to be replicated by other major municipal buyers of insurance.
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A fund run by insurance boutique and research house VJ Dowling has given Enstar a vote of confidence by purchasing stakes in Torus and Atrium
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It was only two weeks ago that we put an extremely provocative word on our front cover in relation to the 1 June Florida property cat renewals.
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Significant overcapacity in the US large account commercial property insurance market from incumbents and new entrants is driving down rates by up to 20 percent...
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RenaissanceRe is trying to purchase a major new Florida retrocession cover providing up to $275mn of limit above a $75mn deductible, as it looks to take advantage of its market-leading position and arbitrage the capital markets, sources said.
