Brit mulls side-car venture to re-enter retro
In its preliminary 2005 results statement, Lloyd’s (re)insurer Brit has reconfirmed that it pulled out of the Cat retrocession market at the 1st January renewals. However, Brit confirmed that it may soon be back in what it sees as an attractively priced market once it has sweated down current liabilities and worked out how to reduce volatility, possibly using a “sidecar” company.
Brit said that it had adopted a more conservative aggregate management policy using new industry models and risk accumulation tools so as to help reduce the account's overall volatility and that this
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Reinsurance
Insurance industry’s most powerful leaders revealed
Insurance Post’s Power List cuts through the noise to reveal who really moved markets, shifted outcomes and shaped the UK general insurance sector over the last 12 months.
Paul Morden, Munich Re
Paul Morden, CEO of Munich Re UK’s branch is responsible for shaping and delivering reinsurance strategy across the UK and Ireland.
Jason Richards, Swiss Re
As CEO for UK & Ireland at Swiss Re, Jason Richards sits at the centre of one of the most influential reinsurance platforms in the London market, shaping how insurers respond to an increasingly volatile and complex risk environment.
Pool Re pushes SME terror cover with steep discounts
Pool Re has launched an incentive scheme offering insurers large discounts on reinsurance costs if they integrate terrorism cover as standard into SME commercial property policies.
Storm Goretti losses estimated at £417m
Perils has updated its industry loss estimate for Storm Goretti, also known as Elli, increasing its initial prediction from €467m (£407m) to €479m.
AI recruitment bot launching to address insurance hiring woes
George Shirley, a former account executive at Howden, is launching an artificial intelligence-native recruiter to address issues within the (re)insurance market.
How temporary is the ABI’s fire safety facility?
On the second anniversary of the Association of British Insurers’ Fire Safety Reinsurance Scheme, Scott McGee examines how the facility is operating and whether it is likely to be extended beyond the five years originally set for it.
Stanford replaces Thaker as Sompo UK CEO
Aspen UK CEO Sarah Stanford will lead all of Sompo UK’s property and casualty insurance operations, replacing outgoing CEO Bob Thaker.