TransRe invests in New ParadigmUS cat MGU New Paradigm Group LLC has received an undisclosed capital injection from TransRe, the New York headquartered reinsurance group.
TransRe takes Q3 $196mn cat losses; Alleghany misses analysts’ consensusTransRe took $126.2mn of net cat losses from Typhoons Jebi and Trami in the third quarter as part of an overall net cat loss bill of $195.8mn.
Maiden in advanced talks to sell US arm as TransRe buys renewal rightsTroubled Bermudian Maiden has struck a deal to sell a portfolio to TransRe and revealed that it is in “advanced discussions” to offload its $1.1bn North American business to an as-yet-unnamed third party.
Reserve releases at TransRe drive surge in Alleghany profitsReserve releases within Alleghany’s reinsurance arm TransRe have driven a surge in the US firm’s profits, which climbed 51.8 percent to $174.6mn in the first quarter.