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Statera Management Agency Limited, a subsidiary of Octave Ventures, has received regulatory approval to act as Lloyd’s managing agent. Statera will now manage Syndicates 4242 and 1416, which currently underwrite specialty risks generated through a strategic relationship with Octave Ventures, a subsidiary of Octave Specialty Group, Inc. The syndicate benefits from a Lloyd’s A+ financial…
Howden revealed that January 1 casualty reinsurance renewals benefited from improving supply and demand dynamics, with performance-driven results driven by continued long-tail and reserve pressures, while international placements remained generally stable despite tighter renewal requirements for the U.S. business. The U.S. casualty reinsurance market experienced largely stable conditions on January 1, with overall capacity stable…
Cowbell, a provider of online and specialty insurance focused on small and medium-sized businesses, has announced the next cycle of its organizational journey to accelerate global growth while increasing profitability and scale, with the appointment of John Botros as chief financial officer. Building on the company’s strong performance and recent expansion into Australia, Cowbell is…
Reinsurance brokerage and advisory firm Gallagher Re has appointed Scott Cobon as head of strategic solutions for Bermuda. Cobon joins Artex from Gallagher, a specialist in alternative risk management, captive insurance and insurance-related securities, where he is renowned for his deep risk management expertise, complex structuring skills and extensive capital markets knowledge. Gallagher highlighted that…
JPMorgan acknowledged that the double-digit decline in real estate catastrophe pricing was a sharp adjustment to digest, but said it did not expect the renewal weakness to impact reinsurers’ net income guidance, noting that market participants had largely anticipated these pricing reductions when the guidance was set. In a new report on the matter, J.P….
Carrick Group Limited, the international non-life legacy insurance company headquartered in Bermuda, has announced the appointment of Alex Smith as Senior Vice President of London Operations and Aidan Mills as Vice President of Mergers and Acquisitions in Bermuda. Smith has more than 25 years of industry experience. Prior to joining Carrick Group, he held a…
Cowbell, a provider of online and specialty insurance focused on small and medium-sized businesses, has announced the next cycle of its organizational journey to accelerate global growth while increasing profitability and scale, with the appointment of John Botros as chief financial officer. Building on the company’s strong performance and recent expansion into Australia, Cowbell is…
QBE Re, the reinsurance arm of global insurance group QBE, has completed its first casualty sidecar, George Street Re, marking its entry into the sidecar market with a fully collateralized quota share reinsurance transaction in excess of $550 million. The George Street Re sidecar, backed by institutional investors Culpeper Capital Partners, Calidris Investment Partners and…
US private flood insurance provider Neptune Flood has entered into a strategic partnership with Somers Syndicate 3705 to provide additional underwriting capacity to support its range of insurance products. Somers Syndicate 3705 is the Lloyd’s insurance business of Somers Re Ltd. Somers Re Ltd is a global insurance and reinsurer with extensive experience in the…
Blenheim Partnerships, part of the White Bear Group, has launched specialist trade-related managing general agents (MGA), led by Ed Parker. MGA is supported by Blenheim Underwriting as well as other reputable markets including a number of Lloyd’s syndicates. According to the announcement, MGA provides insurance for various trade-related risks, with insurance limits ranging from US$4.5…
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