Casualty Reinsurance

Tradesman: Vesttoo and Corinthian replaced on Clear Blue-fronted panel

Tradesman Program Managers (TPM) has told trading partners that Vesttoo and Corinthian’s participation has been replaced on the reinsurance panel behind Clear Blue paper backing the New York construction-focused MGA program, The Insurer can reveal.

Collateralized reinsurer Northern Re launches targeting regional carriers and MGAs/MGUS

Start-up collateralized reinsurer Northern Re has secured $25mn of capital from a private investment group to support regional carriers and MGAs/MGUs and provide capacity to a group of historically profitable portfolios already known to its managing partners.

Collateralized reinsurers target growing casualty opportunity

The established cohort of smaller niche collateralized reinsurers writing mainly auto liability and general liability quota shares are being complemented by the growth of sophisticated players such as Ledger, Long Tail Re and Multi-Strat with access to large pools of investors seeking casualty risk, according to Acrisure Re CEO Simon Hedley.

Ledger launches casualty ILS fund to bring alternative capacity to MGAs

Ledger Investing has launched an ILS fund called Nanorock Fund focused primarily on investing in casualty risks that will bring multi-year capacity to MGAs as well as program insurance companies looking for an alternative to traditional reinsurance.

MGA Bluefire assumes risk with AXA XL collateralized reinsurance deal

Specialist non-standard auto MGA Bluefire Insurance has completed an alternative capital transaction that sees it assume risk in its personal auto business through a collateralized reinsurance agreement with AXA XL, The Insurer can reveal.

Topsail Re pushes past $100mn in written premium

Cayman Islands start-up reinsurer Topsail Re is on track to write in excess of $100mn of premium in 2019 through business onboarded in its first six months of operating as it looks to take advantage of improving pricing and terms to build out its portfolio of business, The Insurer can reveal.

Jewett raising funds for $100mn fronting start-up

Former Endurance Specialty president Bill Jewett is in late stage discussions with investors as he looks to raise around $100mn of capital for a program fronting start-up called Obsidian Specialty, The Insurer can reveal.