August 23, 2024
Ascot Group Ltd., the Bermuda-based global specialty insurance company, announced the launch of a unified capital management platform, Leadline Capital Partners, to support their expanded third-party capital business. Under this newly formed platform, Ascot has also announced that the company …
April 17, 2024
Aspen Insurance Holdings Ltd. and PIMCO Investment Management Co. announced the formation of Pando Re Ltd., a Bermuda-domiciled collateralized re/insurer focused on casualty business. Under a long-term agreement, Aspen will be the sole cedent to Pando Re and PIMCO will …
February 14, 2023
Following through on intentions to move its high net worth business to nonadmitted paper—and some to other capital providers—American International Group entered into a binding memorandum of understanding with Stone Point Capital LLC to form an independent managing general agency. …
December 28, 2020
W. R. Berkley Corp. announced the formation of Lifson Re Ltd., a special purpose reinsurer registered in Bermuda and licensed by the Bermuda Monetary Authority. Lifson Re has been capitalized with more than $250 million of equity from a small …
October 22, 2020
PartnerRe Ltd. announced that Andrew Hughes will join PartnerRe in the new role of CEO, Third Party Capital, subject to immigration approval. Hughes will be responsible for further developing and growing PartnerRe’s third-party capital initiatives. He will be based in …
January 9, 2020
Specialist insurer Beazley and reinsurer RenaissanceRe have jointly launched a product that provides Beazley with additional catastrophe cover for cyber events. The majority of the security behind the deal will be provided by capital market sources structured by RenaissanceRe. This …
January 6, 2020
The January 2020 reinsurance renewals saw significant variation in pricing and capacity depending on geography, line of business, cedents’ loss record and client relationships, according to two reports published by brokers Guy Carpenter and Willis Re. Indeed, the market demonstrated …
February 1, 2019
Growth of the insurance linked securities (ILS) market reached $93 billion in 2018, up from $88 billion during the prior year, according to the new ILS Market Update from Willis Re, the reinsurance division of Willis Towers Watson. In the …
January 28, 2019
PIMCO, the Newport Beach, Calif.-based fixed income investment manager, has hired Rick Pagnani from Mt. Logan Re as executive vice president, to lead the launch of the firm’s property and casualty insurance linked securities (ILS) business. The ILS market, which …
January 14, 2019
The overall impact of catastrophe losses on property rates was muted at the Jan. 1, 2019 reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy and the amount of …