ILS

The reinsurance market has reached a crossroads that could result in a "meaningful restructure", with increased use of alternative capital driving commoditisation and the end of the sector's traditional capital base.

Regulators should be paying greater attention to the rapid growth of alternative capital in the (re)insurance sector, according to former Connecticut insurance commissioner Tom Leonardi.

Third Point Re has begun winding down its catastrophe fund, with assets under management (AuM) falling 35 percent over the first quarter.

RenaissanceRe's permanent sidecar DaVinci Re reported a 7 percent decrease in first quarter net income to $52mn, following a 22 percent reduction in net earned premium income to $61mn.

Military mutual insurer and insurance-linked securities (ILS) stalwart USAA has launched its 24th Residential Re catastrophe bond, which is targeting $150mn in annual aggregate cover, sister title Trading Risk has reported.

Allstate has locked in a $439mn portion of its giant nationwide cat programme after purchasing a seven-year deal in the traditional reinsurance markets, further extending its existing multi-year strategy on its core placement.

Foo heads to Swiss Re; CCR downgraded; Guenther launches advisory; Ascot hires; Capsicum Re hires; Brit lures Courchaine; Noul hits Philippines; Lockton raids THB; Third Point Re growth; Navigators GWP shrinks; AmTrust buys warranty firm; Integro buys energy specialist; Beazley's specialty push; Markel profits surge; Everest Re hires CUO; JLT Re recruits; Meadowbrook profits fall; RenaissanceRe beats; Ross row intensifies; Liiba CEO announced

Sometimes we Insiders get too close to the action to see the bigger picture.

The latest Everglades Re cat bond from Florida Citizens Property Insurance has moved towards the top of its revised pricing forecast range and upsized to $300mn from a $250mn target, sources told sister publication Trading Risk

Competition among insurance-linked securities (ILS) fund managers is leading to increasingly innovative products that will help grow the market, according to Willis Capital Markets & Advisory (WCMA)

Everest Re raised $60mn of capital for its sidecar Mt Logan Re at 1 April, expanding total assets under management (AuM) to $750mn, sister publication Trading Risk reported

Hedge fund reinsurer Watford Re has reached its target of writing more than $400mn of gross premium in its first underwriting year since its inception last March.