Conduit Re, the pure-play Bermuda reinsurance company, has announced its intention to purchase more retrocession to protect its earnings from volatility due to secondary peril loss impacts, while the company has also announced that CEO Trevor Carvey is stepping down.The company reiterated its expectation that the California wildfires in January 2025 will generate a $100 … Read more
RenaissanceRe, the Bermuda headquartered global reinsurer and third-party reinsurance capital manager, has built a “deep and persistent moat” around its fee income business, CEO Kevin O’Donnell believes, saying that demand from investors for access to its Capital Partners strategies is often greater than it can satisfy.Writing in his annual letter to shareholders, Kevin O’Donnell explained … Read more
Another Silicon Valley investor is getting into the rocket business. Former Google chief executive Eric Schmidt has taken a controlling interest in the Long Beach, California-based Relativity Space. The New York Times first reported the change becoming official, after Schmidt told employees in an all-hands meeting on Monday. Schmidt’s involvement with Relativity has been quietly … Read more
Consecutive record years of cat bond issuance, a fast start to this year, a broadening investor and sponsor base, and expansion into perils like cyber and casualty, means it’s an exciting time to be in the insurance-linked securities (ILS) space, according to Jason Bolding, CEO of Gallagher Securities.Bolding recently took over as CEO of Gallagher … Read more
Coastal property managing general underwriter SageSure’s CEO said it is “proud to support” its carrier partners, as its largest catastrophe bond transaction yet closes, the $520 million Gateway Re Ltd. (Series 2025-1), while executives also expressed gratitude to the insurance-linked securities (ILS) community for supporting the Gateway Re series.SageSure returned to the catastrophe bond market … Read more