ILS

Samir Shah, the executive who overhauled American International Group (AIG)'s reinsurance purchasing, is moving to the new role of head of capital markets and catastrophe risk, The Insurance Insider has learned

Samir Shah, the executive who overhauled American International Group (AIG)'s reinsurance purchasing, is moving to the new role of head of capital markets and catastrophe risk, The Insurance Insider has learned

Validus subsidiary AlphaCat Managers has renewed its AlphaCat sidecar for 2015 at $155mn and raised $409mn of new capital for its insurance-linked securities (ILS) funds

Reinsurance continues to attract significant investment despite double-digit rate reductions, with every programme given a firm order below the lowest quoted terms at 1 January, Nick Frankland, Guy Carpenter's CEO of Europe and the Middle East said today (8 January).

Reinsurance broker Guy Carpenter's global property catastrophe reinsurance rate-on-line index fell by 11 percent at renewals, with rate reductions continuing across almost all lines of business and geographies

Specialty excess of loss reinsurance managing general agency (MGA) Tamesis Dual is acting as an adviser for Kelvin Re, the Abu Dhabi-backed and Credit Suisse Asset Management-managed reinsurance start-up.

Global reinsurer capital climbed to a new record level of $575bn at the end of third quarter of 2014, according to the latest estimates from Aon Benfield.

Willis Re believes that the surge in growth of collateralised reinsurance during 2014 is unlikely to be as pronounced in 2015, according to its 1st View January renewals report.

Non-traditional capacity is on track to reach Aon Benfield's prediction of $150bn by 2018, after it increased by almost 25 percent to $61.9bn by the end of the third quarter of 2014.

Brit Insurance today (5 January) became the latest insurer to enter the collateralised reinsurance space with the creation of a Bermuda-domiciled special purpose reinsurer, Versutus Ltd.

Brit Insurance has this morning (5 January) unveiled Versutus Ltd, a new Bermuda-domiciled special purpose reinsurer that will provide collateralised capacity support for the Lloyd's insurer's property treaty portfolio for 2015.

Aon Benfield Americas CEO Bryon Ehrhart has said that reinsurers that had succeeded in incorporating alternative capital into their businesses in 2014 had an added edge in the January 2015 reinsurance renewals.