What's Happening?
Bobcat Re, a new property-catastrophe reinsurance managing general agent (MGA), has been launched by a group of private investors, including former K2 CAT executives David Carson and James Sharpington,
along with Glenn T. Jackson from Safepoint. The company is headquartered in Tampa, with an additional office in London, and aims to provide tailored reinsurance solutions to capacity providers in the U.S., Japan, Canada, and the Caribbean markets. Bobcat Re specializes in building bespoke portfolios that align with a carrier's specific risk appetite, utilizing in-house modeling, actuarial, claims, compliance, and management information resources to support its underwriting team. The company offers business acceptance through a carrier's balance sheet, fronting companies, or collateralized quota share arrangements. Insight Risk Solutions provides back-office services, ensuring that all facilities are separate with single carriers, avoiding aggregation of lines across multiple facilities.
Why It's Important?
The launch of Bobcat Re signifies a strategic expansion in the property catastrophe reinsurance market, offering customized solutions that cater to specific risk appetites of carriers. This approach could potentially enhance the efficiency and effectiveness of reinsurance programs, particularly in regions prone to natural disasters like the U.S. and the Caribbean. By providing bespoke portfolios, Bobcat Re aims to optimize risk management and underwriting processes, which could lead to more competitive pricing and improved financial stability for insurers. The involvement of experienced industry professionals like David Carson and Glenn T. Jackson further strengthens the company's credibility and expertise, potentially attracting significant interest from capacity providers seeking innovative reinsurance solutions.
