ILS

DCG Iris shareholders voted unanimously to wind up the closed-ended insurance-linked securities (ILS) fund during an extraordinary general meeting on 24 September.

Final pricing was reached for a new $500mn issuance of municipal bonds that will act as a layer of catastrophe funding for the Texas Windstorm Insurance Association (TWIA), sister publication Trading Risk reported last week

Technology giant IBM's UK pension scheme committed $50mn to invest in Nephila Capital's Iron Catastrophe Fund at the start of this year, according to its most recent annual report.

The National Bank of Ukraine has granted the first licence permitting a domestic insurer to post collateral in a bank outside of the Central and Eastern Europe (CEE) region.

Hedge fund backing for lawyers representing plaintiffs in class action suits and other civil litigation could drive up claims costs, Swiss Re's chief economist has warned.24

The US Treasury is considering tightening up its regulation of hedge fund-backed reinsurers following calls from lawmakers to address alleged tax avoidance.

Standard & Poor's (S&P) has placed the Class C notes of MultiCat Mexico 2012 on creditwatch negative due to potential exposure to Hurricane Odile.

Hannover Re has combined its retrocession and capital markets divisions following the retirement of Trevor Bolt, who previously headed up the firm's group protections unit.

Global P&C insurer Ace is working an on internal reinsurance vehicle with fund manager BlackRock that could see significant amounts of ceded premium siphoned off from the traditional market, The Insurance Insider can reveal

TigerRisk has entered the next phase of its expansion with the unveiling of a Bermuda office that will principally be engaged in providing retrocessional solutions to clients in the region, the US reinsurance broker told The Insurance Insider today (14 September)

Greenlight Re CEO Bart Hedges said while he expected further imitators of the hedge fund reinsurance model there were obstacles to this happening on a large scale

Alternative reinsurance capital grew by 18 percent in the first half of 2014 to reach $59bn, outpacing growth in the traditional reinsurance market, Aon Benfield Analytics has estimated.