RenRe narrows bidders after returning to market with Lloyd’s legacy book
Bermudian carrier RenaissanceRe has returned to the legacy market, once again seeking an adverse development cover (ADC) for a circa £470mn ($579.8mn) casualty book written through its Lloyd’s syndicate, The Insurer can reveal.
Catalina continues to bolster corporate governance; names former Old Mutual CEO Hemphill chair
Bermudian-headquartered legacy specialist Catalina Holdings has named former Old Mutual CEO Bruce Hemphill as non-executive chairman of the board and Caroline Foulger as senior independent non-exec director, effective immediately.
Apollo’s Catalina involved in Sirius sales process
Apollo and its legacy specialist Catalina are involoved in the next stage of the sales process for Sirius International, indicating that potential live and run-off buyers are under consideration as the Bermudian seeks to resolve its future, The Insurer can reveal.
Karl Wall’s legacy start-up to launch Bermudian reinsurer Carrick Re
Carrick Specialty Holdings, the legacy start-up led by former Enstar US president and CEO Karl Wall has registered a new Class 3A Bermudian reinsurer called Carrick Re, The Insurer can reveal.
R&Q adds to board with Shore Capital co-founder Flanagan
Non-life run-off specialist Randall & Quilter has appointed former financial analyst Eamonn Flanagan to the board as an independent non-executive director.
Hiscox buys ILWs ahead of hurricane season and eyes LPT to release capital
Hiscox is bolstering its existing reinsurance programme with the purchase of industry loss warranties (ILWs) ahead of the upcoming hurricane season and is looking at potential loss portfolio transfers (LPTs) to free up capital.
AIG takes $210mn write-down to wipe Blackboard
AIG has put its tech-driven middle market insurance operation Blackboard into run-off and taken a $210mn Q1 impairment charge to write down the asset on its balance sheet in the process.
R&Q pens £60mn LPT with Hamilton Syndicate 3334
Legacy specialist R&Q has sealed a deal with Bermudian carrier Hamilton for a £60mn ($74.5mn) loss portfolio transfer (LPT) of its Lloyd’s syndicate 3334, The Insurer can reveal.
R&Q pens loss portfolio transfer with self-storage insurer Repwest
Randall & Quilter Investment Holdings (R&Q) has entered into a loss portfolio transfer (LPT) reinsurance contract and transfer agreement with the Amerco-owned Repwest Insurance Company.
QBE brings in GC to market $300mn NA legacy portfolio
QBE is working with Guy Carpenter to find a legacy solution for a $300mn portfolio of the Australia-based carrier’s North American E&S business, The Insurer can reveal.
RenRe-Catalina legacy deal falls through
A proposed deal that would have seen legacy player Catalina provide an adverse development cover (ADC) for the back years of RenaissanceRe’s Lloyd’s Syndicate is not now going ahead, The Insurer can reveal.
QBE seeking $300mn NA E&S legacy portfolio transfer
Australian carrier QBE is marketing a $300mn North American E&S portfolio to the legacy sector as the carrier seeks to bolster its balance sheet from any pandemic-induced economic fallout.