Ark

Ark and Elementum backer White Mountains eyeing 1.1 cat opportunity

White Mountains is mulling options to deploy capital to hard market property cat opportunities on a short-term basis, with a potential sidecar alongside its majority-owned Ark platform among those likely to be under consideration, The Insurer can reveal.

Ark UW income rises 43% on higher earned premiums, releases, despite $15mn Russia loss

White Mountains-owned Ark grew underwriting income by 43 percent in the second quarter, benefiting from a 63 percent surge in net earned premiums and a doubling of reserve releases, despite $15mn in losses connected to the Russia-Ukraine conflict.

White Mountains: Ark generates 100% CR as NSM delivers top- and bottom-line growth

White Mountains-owned Ark reported 57 percent growth in gross written premium (GWP) but broke even on its underwriting in Q1 as it took a hit on Russia-Ukraine losses, while up-for-sale MGA platform NSM reported top- and bottom-line growth in the period.

Ark books over $500mn GWP at 1.1 with rates up 11%

Ark has revealed that it wrote in excess of $500mn of gross written premiums (GWP) in January, which follows the White Mountains subsidiary breaking the $1bn GWP mark for the 2021 full year and recording a 70 percent combined ratio for the fourth quarter.

AM Best affirms Ark Bermuda platform’s A rating

AM Best has affirmed the financial strength rating of A and long-term issuer credit rating of “a” of Ark’s scaled-up White Mountains-backed Class 4 Bermudian platform, with the agency citing the carrier’s balance sheet strength and “robust” underwriting performance track record at Lloyd’s.

Ark on course to write a $1bn+ in 2021; 9M CR at 93%

The Lloyd’s-Bermuda (re)insurer Ark is now on course to write over $1bn in GWP in 2021 following the publication of parent White Mountains’ third quarter results yesterday.

Ark reports strong Q3 top line growth and 88.8% adj CR despite cats

Ark Underwriting delivered a third quarter 91.9 percent combined ratio – or 88.8 percent on an adjusted basis – despite $50mn of cat losses, and gross written premiums up 79 percent to $162mn, but parent White Mountains fell to a $373mn comprehensive loss as it took a hit on its MediaAlpha investment.

Ark to grow Lloyd’s syndicates’ top line by 26% in 2022

Expansive Lloyd’s managing agency Ark Syndicates Management has received the greenlight to increase its top line by 26 percent in 2022 as Lloyd’s completes its year-ahead business planning reviews for syndicates that operate at Lime Street, The Insurer can reveal.

Ark Bermuda adds marine and specialty head Paul Manders as Validus Re migration completes

Expansive Lloyd’s-Bermuda (re)insurer Ark has added Paul Manders – formerly head of marine and specialty at Validus Re – to its growing island operations ahead of the 1 January renewals, The Insurer can reveal.

Ark and White Mountains cancel $200mn capital option

Ark has opted to terminate White Mountains’ commitment to provide up to $200mn of additional capital, with Bermuda subsidiary Group Ark Insurance Limited (GAIL) instead raising a total of $164mn of subordinated debt to support its continued growth.

Ark finally lands Validus Re big beasts Clements and Silvester

Ark Bermuda’s new CEO and chief underwriting officer Jeff Clements and head of property reinsurance Chris Silvester officially joined the business late last week after a year spent in the garden following their exit from Validus Re, The Insurer can reveal.

AM Best assigns long-term issue credit rating of “bbb+” to Ark Bermuda’s $47mn subordinated notes

Group Ark Insurance Limited’s recently issued $47mn floating rate subordinated notes, due 2041, has been assigned a “bbb+” (Good) long-term issue credit rating by AM Best.

Ark posts Q2 CR of 89.8% as strong renewals drive top-line surge

White Mountains-owned Ark has reported a combined ratio of 89.8 percent for the second quarter, with strong April and June renewals leading to a 78 percent increase in gross written premium from 2020 levels.

White Mountains and Ark extend deadline on $200mn capital option

Scaled-up carrier Ark Insurance Holdings now has until 16 August to call on its $200mn capital option with investor White Mountains after extending the deadline from 30 June.

Ark sails on with Lloyd’s mid-year 10% pre-emption approval

The expansive Lloyd’s managing agency Ark Syndicates Management Ltd has received the greenlight to increase its top line by a further ten percent following a recent market review by Lloyd’s into syndicates’ mid-year expansion requests, The Insurer can reveal.

Ark moves into product recall with AGCS swoop

Lloyd’s (re)insurer Ark has recruited AGCS’ London-based liability underwriter Stewart Eaton as the expansive carrier moves into the specialist London market product recall class, The Insurer can reveal.

Ark doubles GWP in Q1 as White Mountains sees decline in BVPS

Scaled-up specialty (re)insurer Ark more than doubled its top line in the first quarter – booking $405mn in gross written premiums – but Winter Storm Uri pushed the carrier into the red on underwriting with a GAAP combined ratio of 109 percent.

Ark Bermuda’s ex-Validus reinsurance team arrives

“Class of 2020” scale-up Ark welcomed a new wave of arrivals to its expansive Bermuda arm this week as the first of its Validus hires began underwriting.

Ark Bermuda recruits begin to land as Hamilton Re excess casualty trio start underwriting

Ark’s recently hired trio of former Hamilton Re underwriters began underwriting US excess casualty from Bermuda this week with a line of up to $25mn per risk at a time when market capacity is increasingly limited due to widespread carrier retrenchment, The Insurer can reveal.

Probitas, Lancashire, Ascot, Aegis and Ark lead Lloyd’s 2020 top performers

Lloyd’s insurers Probitas, Lancashire, Ascot, Aegis and Ark, together with perennial outperformer Chaucer nuclear Syndicate 1176, head the league table of the best-performing syndicates in 2020, analysis by The Insurer shows.

Region

Topics

Events & Conferences

Content Types

Ark