Frequency of events is the main driver of insured loss accumulation, with severe convective storms accounting for a record high of US$64 billion in 2023
In the group captive, Artex serves as the captive consultant and manager and also offers claims advocacy.
Pool Re’s proposals to convert its reinsurance arrangements from the current facultative obligatory treaty to an annual aggregate catastrophe excess of loss treaty will take effect in April 2025.
The state licensed 25 new captives and 66 new cells last year, bringing the total to 164 captives and 555 cells, according to data from the Tennessee Department of Commerce and Insurance’s (TDCI’s) Captive Insurance Section.
The insurance broker says that the facility provides up to US $825 million in insurance capacity and will support organisations with digital assets held offline
Based in Bermuda, Edgware Re engages with its members and allows participants to purchase up to US$10 million in insurance or reinsurance based on their needs.
The new consortium offers brokers lead line capacity up to US$75 million per vessel, addressing the growing need for lead capacity as the shipping industry moves towards greener solutions and expands naval construction.
