ILS

Florida start-up SafePoint Insurance Company has revealed the details of its 2014 reinsurance programme, which includes multiple event cover with a top or drop (ToD) layer.

Catco chairman Nigel Barton said the firm's London-listed Catco Reinsurance Opportunities Fund was on track to outperform its 12-15 percent target return for 2014 after its net asset value gained 4.27 percent in the first half.

Increased competition in the global reinsurance sector will see earnings curtailed in 2014 and 2015, according to a report from Standard & Poor's (S&P).

(Re)insurance stocks moved further into the red last week as the performance of The Insider 30 index fell back by 0.32 percent, led by continental reinsurers.

Zacks has downgraded its rating on property catastrophe reinsurer Blue Capital Re from outperform to underperform following the release of the firm's second quarter results.

Allied World more than doubled the limit on its retro programme to $250mn upon renewal in the second quarter, the firm's chief financial officer Tom Bradley said on an earnings call.

Hannover Re ceded 40 percent of its gross aviation claims to retrocessionaires in the first half of 2014.

The new RMS(one) platform is now running a year behind schedule and is not expected to launch before 2015.

Erstwhile Brit Insurance CEO and industry entrepreneur Neil Eckert has reunited with former Augsburg Re aviation underwriter Klaus Gierstner to fundraise for a new managing general agency (MGA).

BMS Capital Advisory has received its broker-dealer license from US authorities and is now able to advise on cat bond issuances and M&A transactions

CCLA Investment Management, a specialist fund manager for UK charities, local authorities and the Church of England, has invested £20.58mn in the London-listed Catco Reinsurance Opportunities Fund

New investors injected capital into Mt Logan Re at 1 July, according to Everest Re's chief underwriting officer John Doucette