third party capital News

W. R. Berkley Corp. Launches Special Purpose Reinsurer in Bermuda

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 …

PartnerRe Appoints Hiscox’s Hughes as CEO Third Party Capital

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 …

Beazley and RenaissanceRe Launch Cyber Catastrophe Cover Backed by Capital Markets

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 2020 Reinsurance Renewals Varied Significantly, Brokers Say

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 …

Insurance Linked Securities Market Grows to $93B in 2018: Willis Re

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 …

PIMCO and Allianz Partner to Launch Insurance Linked Securities Business

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 …

Jan. 1 Renewals Saw ‘Muted Impact’ from 2018’s Catastrophes: Guy Carpenter

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 …

Liberty Mutual Again Taps Capital Markets Via Reinsurance Sidecar, Limestone Re

Liberty Mutual has once again directly tapped capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. Limestone Re provides approximately $150 million of collateralized reinsurance capacity for Liberty’s U.S. property catastrophe program, as well as its …

Neon Sponsors 2nd ILS Transaction via UK Transformer Vehicle NCM Re

Neon announced it successfully has raised third party capital to support its second insurance linked securities (ILS) transaction through its UK-based transformer vehicle, NCM Re. This marks the first reinsurance renewal under the UK’s nascent regulatory regime for alternative capital …

Neuberger Berman Expands ILS Platform with Purchase of Cartesian Re, Iris Re

Investment manager Neuberger Berman Group has acquired an asset manager and an affiliated reinsurer, which manage funds of more than $1 billion and focus on insurance-linked strategies. New York-based Cartesian Re and its Bermuda affiliate Iris Re were purchased from …