Hints and tips:
...Haymarket also lent $91mn to Jarm Capital, a Delaware company then owned by Josh Wander, co-founder of 777, according to a person familiar with the situation....
...But at a private event last month, one executive at the corporation that oversees the market told underwriters that it has not yet seen clear evidence that a warming climate is a major driver in claims costs...
...Institutional investors seeking returns have poured tens of billions of dollars in to such insurance-linked securities, forming a significant source of reinsurance for underwriters....
...The company has apologised and said it was investigating and co-operating with affected clients. It was the second significant attack on the group in as many years....
...The market for insurance-linked securities has grown in recent years as underwriters look for places to lay off their risks, while investors are lured by returns that are less correlated to traditional financial...
...AEL chief executive Anant Bhalla announced a “modest” investment in 26North during an earnings call on Tuesday, speaking of Harris, an Apollo co-founder, as “one of the foremost private equity investors...
...and property catastrophe reinsurance....
...Under the deal, the brokers agreed to co-operate in future criminal investigations and to enhance and report on their compliance....
...It is also co-leading the Birkenstock offering along with JPMorgan and Morgan Stanley....
...IAG was one of the main insurers behind $10bn of cover arranged for Greensill through Bond & Credit Co, an underwriting agency the Australian insurer owned a 50 per cent stake in before selling it to Tokio...
...Barclays, Goldman Sachs, JPMorgan Chase and Mizuho are leading a consortium of 28 underwriters for the IPO....
...losses and underwriters have begun to demand tougher terms and conditions....
...● While the state-owned insurer LIC and Abu Dhabi-based International Holding Co. have supported the deal, why has the offering commanded little support from Indian mutual funds?...
...“If folks in other jurisdictions . . . feel it is a good time to be giving away this cover to gain market share, best of British luck to them,” he told underwriters at a quarterly presentation. ...
...The new contract for the Central Fund is a reinsurance agreement that allows Lloyd’s to effectively shift risk off its balance sheet....
...In January, it received regulatory sign-off for a vehicle called “London Bridge”, which allows investors to gain direct exposure to underwriters’ performance through a reinsurance contract with a member...
...The group’s Lloyd’s of London syndicate, an insurance underwriter for areas including offshore energy, said last week it would stop underwriting a wider range of oil and gas contracts from January....
...“Investors have said we don’t want more catastrophe risk,” said Rod Fox, co-founder of reinsurance broker TigerRisk. “That has trickled down.” Many see 2022 as a turning point....
...“If there’s a sponsor willing to do the deal plus a bunch of underwriters, they might as well go now.”...
...Four years ago, Greg Brereton, an underwriter at a little-known Sydney insurance firm, exchanged emails with Lex Greensill, the founder of a specialist lending business that was flying high....
...They provide mutual insurance coverage for 90 per cent of oceangoing tonnage, pooling their risk, and rely on Lloyd’s for reinsurance cover....
...He’ll head Brookfield’s publicly listed reinsurance business, which the group plans to expand aggressively....
...Lloyd’s is also striving to attract brokers and underwriters back to its underwriting room. Numbers have now reached about half of pre-pandemic levels....
...They may have given up just as the pricing cycle was turning — though by doing so, and by removing competitive pressure, they will also have magnified the benefit for the underwriters that remain....
...MS Amlin’s Carrier said the insurer was now “operating a hybrid model with a fluid combination of senior and junior teams from all insurance and reinsurance classes being available and present either at...
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