ILS

Richard Brindle will not look to establish a platform to underwrite on behalf of third-party capital until market conditions improve, the entrepreneur told The Insurance Insider, as start-up Fidelis started writing on its own balance sheet.

Few joins Amlin; Hiscox appoints Worth; Hannebert quits CCR; New Zealand floods; Markel appoints; Endeavour team joins Ropner; Allstate cat losses; Axis bid doubtful; IGI UK hires Curtis as CFO; Willis cyber reboot; Besso dual promotion; Creasy joins Charles Taylor; R&Q modest loss; RenRe the largest FHCF reinsurer; Political risk capacity $2.4bn; Tech threat: Duperreault; Beale defends broker model; Rowan's return; Bill causes death; Channel hires; ‘Controlled softening' due:

Former Aspen Re CEO James Few has been announced as the new global managing director of Amlin's reinsurance division from 1 August

Reinsurers are set to see "controlled softening" in the market following a slowdown in rate declines during the June renewals, according to Credit Suisse's head of insurance linked strategies Niklaus Hilti.

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.