ILS

The Insider 30 made a 1.46 percent gain last week, outstripping the performance of wider stock market benchmarks the FTSE 100, Euro Stoxx 600 and S&P 500.

Two earthquake cat bonds are set to be renewed this week, with the Turkish Catastrophe Insurance Pool (TCIP) and the California Earthquake Authority (CEA) the likely sponsors, sister title Trading Risk understands.

Bondholders are monitoring the Akibare II and Aozora transactions following predictions that Category 4 Typhoon Nangka could make landfall in southern Japan later this week, Trading Risk understands.

Lane Financial's insurance-linked securities (ILS) rate-on-line index has continued its upward trend in 2015, climbing 8.5 percent in the first half of the year.

African Risk Capacity (ARC), Africa's first parametric catastrophe insurance pool, is to grow to around $192mn, with over $70mn ceded to the reinsurance market through Willis Re

Global reinsurance capital reached $580bn by the end of the first quarter of 2015, up 1 percent from the end of last year, according to Aon Benfield's latest reinsurance market outlook

Reinsurers and reinsurance brokers will almost certainly lose out following the proposed acquisition of Chubb by Ace, as the combined entity's enlarged balance sheet, better diversification and increased buying power allow it to reduce its reinsurance spend.

London faces the challenge to deliver ILS business to the UK by Budget 2016, according to the UK's Crown Representative for insurance Michael Wade.

Willis Capital Markets & Advisory (WCMA) executive Jarad Madea is set to join reinsurance broker TigerRisk, the intermediary announced yesterday (29 June).

Aspen Re has recruited Deutsche Bank executive James Lee to work in its $185mn capital markets unit, sister title Trading Risk reported last week.

State-owned carrier China Re is poised to launch the first Chinese earthquake catastrophe bond, Panda Re, which is targeting $50mn in cover, sister title Trading Risk revealed last week.

Retro market leader Catco Investment Management, which was recently placed up for sale, could fetch around $300mn, according to analysis by sister publication Trading Risk.