ILS
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RenaissanceRe sidecar DaVinci Re Holdings is set to raise $150mn from a private debt offering of senior notes, which it said would be used to repay a $100mn loan from its sponsoring reinsurer.
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Towers Watson said that it remained positive on the reinsurance sector, but suggested that investors adjust their reinsurance allocation to be "moderately underweight" relative to their target exposure.
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Travelers has returned to the insurance-linked securities (ILS) market with a new $200mn Long Point Re III cat bond, sister publication Trading Risk reported last week.
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The Internal Revenue Service (IRS) and US Treasury have released proposed regulations on the taxation of offshore (re)insurers and requested feedback on how best to measure carriers' capital requirements.
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Ace CEO Evan Greenberg has dismissed the prospect of the carrier's captive reinsurance vehicle ABR Re writing business for external insurers for the next several years.
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Former Aon Benfield and AQR Re executive Paul Karon has joined TigerRisk as vice chairman, The Insurance Insider revealed last week (21 April).
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The Internal Revenue Service (IRS) and US Treasury have released proposed regulations on the taxation of hedge fund-backed reinsurers.
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Ace CEO Evan Greenberg has confirmed that its captive reinsurer ABR Re is not planning to attract business from external sources "for a number of years".
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Cat bond issuance in the first quarter of 2015 hit a record $1.86bn, rising 21 percent year-on-year to comfortably beat the $1.54bn placed in Q1 2014, according to data compiled by sister publication Trading Risk.
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Florida Property Citizens Insurance is seeking $250mn of cover for its 2015 Everglades Re bond, sister publication Trading Risk reported last week.
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The Agnelli family's bid to acquire PartnerRe raises the prospect of a new model for a reinsurance company based on long-term ownership by investors with lower return hurdles.
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Florida Citizens Property Insurance has launched a new $250mn cat bond as it prepares to line up its 2015 reinsurance programme, sister publication Trading Risk reported last week.