ILS

If the P&C sector can find excess capital sitting in reinsurance and connect it with the unmet needs of retail insurance buyers it will change the face of the industry, according to Aon Benfield CEO Eric Andersen

US insurer Allstate is testing ILS investors' appetite with Sanders Re, which - at the time of going to press - looked increasingly likely to upsize from $600mn to $750mn

American Coastal Insurance Company has renewed its Armor Re cat bond at a lower rate than last year, but nonetheless it is one of the few ILS transactions to price at the upper-end of expectations

Evidence would suggest that the collective memory of most of our investor base is around five years. That is not helpful to an industry that too often forgets the lessons of the past...

The insurance-linked securities (ILS) market shrank temporarily during the first quarter of 2014 despite a record volume of new issuance for the start of the year, Munich Re Capital Markets said in its Q1 review of the sector.

A Texas Windstorm Insurance Association (TWIA) committee recommended during a 21 April meeting that the state insurer of last resort should focus on sourcing aggregate reinsurance protection for its 2014 programme, including a cat bond.

Floridian insurer American Coastal Insurance Company has returned to the insurance-linked securities (ILS) market with a renewal of its Armor Re cat bond shortly after pricing settled on two other Florida-focused bonds.

Florida Citizens Property Insurance kept its risk transfer budget for 2014 stable at $300mn but managed to buy 70 percent more reinsurance limit than last year, highlighting the swingeing rate reductions that have occurred in the Sunshine State over the past two years.

The board of Florida Citizens Property Insurance confirmed today (24 April) it has approved a $3.1bn risk transfer programme for 2014, including the new $1.5bn Everglades Re cat bond and $1.3bn of traditional reinsurance.

Generali's Lion Re European wind bond is set to be one of a handful of cat bonds offering investors insurance premiums of less than 2.5 percent, sister publication Trading Risk understands.

Heritage P&C is highlighting Floridian insurers' willingness to buy more reinsurance cover amid falling prices, as it launches a new $50mn offering of its Citrus Re cat bond just days after pricing its first $150mn issuance.

RMS has reaffirmed its commitment to its own model development, despite the recent focus on its new RMS(one) platform, the firm said at its annual Exceedance conference last week.