ILS

Reinsurance broker Capsicum Re has confirmed the hire of Neville Ching to lead its retro division and run its Bermudian operation, a move first revealed by The Insurance Insider in September 2014

Bermudian reinsurance sidecar Olympus Re Holdings is set to close after 14 years

Amwins has teamed up with Nephila Capital on a follow-form underwriting facility that will provide all-risk property capacity for business placed by the US wholesale broker, sister title Trading Risk revealed yesterday (4 March).

The current timeframe for developing a global insurance capital standard (ICS) will not change despite industry concerns, according to John Maroney, head of capital and solvency at the International Association of Insurance Supervisors (IAIS)

Unrated start-up reinsurer ABR Re claims it will offer a "superior" business model to existing alternative reinsurers, including established Cayman Islands vehicle Greenlight Re and the four Bermudians set up in the last three years.

Ace and BlackRock's $1.5bn capital raise for internal reinsurance vehicle ABR Re could all but freeze out the carriers that have not made it onto the insurer's core panel.

Chubb's latest East Lane Re bond has upsized by 11 percent to $250mn as pricing settled in the middle of initial forecasts

Floridian insurer Universal Insurance Holdings said a $19mn investment from Nephila Capital and its healthy balance sheet would enable the firm to drop its quota share reinsurance cover in the June 2015 renewals

Limit sold for ultimate net loss (UNL) retro coverage is on course to increase by around $1bn in 2015 to an estimated $12bn, The Insurance Insider can reveal

Third Point Re went $14.7mn into the red in the fourth quarter as it posted a $6.5mn investment loss, reversing an $89.3mn profit in the same period of 2013.

Chubb is seeking to broaden the coverage of its new East Lane Re cat bond and extend the length of the cover to five years, sister publication Trading Risk revealed last week.

Hannover Re has placed 25 percent more retro limit via its K quota share sidecar, sister publication Trading Risk reported earlier this month.