ILS

RenaissanceRe has been confirmed as the largest single provider of cover on the reinsurance programme for the Florida Hurricane Catastrophe Fund (FHCF)

An internal hedge fund reinsurance vehicle is being considered by Bermudian carrier Aspen, making it the second firm to do so after US giant Ace

Unipol expanded the size of its debut cat bond, Azzurro Re, by EUR50mn to reach EUR200mn, sister publication Trading Risk reported last week.

American International Group (AIG) opted for parametric instead of indemnity cover in its latest $300mn Compass Re II cat bond transaction because it believes these triggers will broaden the insurance-linked securities (ILS) market's appeal, the company's head of capital markets Samir Shah told sister publication Trading Risk.

The California Earthquake Authority (CEA) placed 50 percent more reinsurance limit at the January renewals, according to documents presented at a board meeting in late May.

Florida-based insurer Universal Insurance Holdings bought half of the lower layers of its private reinsurance programme on a three-year basis as it followed through on plans to drop its quota share cover.

Unipol has become the second Italian insurer to turn to the cat bond market for reinsurance support, sister publication Trading Risk reported last week.

The industry taskforce established to bring insurance-linked securities (ILS) business to London has named its inaugural members following the first meeting with Treasury representatives, which took place on 5 June.

Reinsurance broker Guy Carpenter has reported that after two years of price decreases averaging 15 percent on US property catastrophe placements, average risk-adjusted rate moderation at the most recent June renewals was in the high single-digit range

Proposed transformer start-up Clear Blue is aiming to be a pure fronting carrier that offers hedge fund reinsurers, Lloyd's syndicates and collateralised writers US programme business they could not otherwise access, The Insurance Insider understands

Two years after the so-called "de-coupling" of the insurance-linked securities (ILS) and traditional reinsurance markets, some observers are characterising the changing dynamics in the property cat space as a sign of "re-coupling"

There was strong evidence of a tighter market for US property cat retro at 1 June that compounded the dynamics in the reinsurance market.