ILS

Catlin COO Paul Jardine has said that the (re)insurance industry will need its current surplus capital when emerging economies such as China mature and require more catastrophe cover.

The California Earthquake Authority (CEA) is set to close its latest catastrophe bond at $400mn, $50mn above its initial target, sister publication Trading Risk reported last week. Normal 0

Private equity firm Aquiline has acquired a majority stake in reinsurance intermediary Beach & Associates, in a move first revealed by The Insurance Insider back in August.

Lloyd's blue-chip Beazley is working with top-10 global reinsurer Korean Re with a view to establishing a special purpose syndicate (SPS) for 2015 that would form the basis of a risk-swapping arrangement, The Insurance Insider can reveal.

Catlin COO Paul Jardine believes that even more capital might be needed in the reinsurance market to cope with the growing risk demands of clients.

Asset manager Crabel Capital Management has launched a Bermudian reinsurer, Crabel Re, which will operate on the MultiStrat Re turnkey platform.

The Abu Dhabi Investment Council is the sole equity backer of Credit Suisse Asset Management's Guernsey start-up reinsurance vehicle Kelvin Re, a report from rating agency AM Best has revealed.

Lloyd's performance management director Tom Bolt suggested that the London insurance market may write less catastrophe reinsurance business in the future as he highlighted the cost advantage that alternative carriers have in the market.

Everest Re has lifted the target size for its new Kilimanjaro Re cat bond to $500mn, which would top its previous record for the largest ever insurance-linked securities (ILS) transaction completed by a reinsurer, sister publication Trading Risk has reported.

Lloyd's has granted in-principle approval to Barbican to establish a special purpose syndicate (SPS) with insurance-linked securities (ILS) heavyweight Credit Suisse Asset Management (CSAM), The Insurance Insider can reveal.

Former Brit Insurance CEO Neil Eckert has withdrawn his plans to launch an aviation and marine managing general agency (MGA) with market veteran Brian Gulbransen, The Insurance Insider can reveal.

Tobin becomes ARS chair; Hiscox cuts back; Tokio Marine Kiln rebrand; Equinox expands; Miller posts organic growth; Admiral down; Swiss Re profits; ABI whiplash; Third Point Reshuffle; New Equitas CEO; Cyber collaboration; Novae hires Lu; Argo launch; Canopius hires; Markel appoints