ILS

Brokers highlight the strong buyers' market that prevailed at 1 April...

Traditional reinsurers have begun to use alternative capital to help them match the cheaper prices offered by non-traditional rivals, global broker Aon Benfield said today (4 April) in its report on the 1 April policy renewals.

Hiscox's new asset management subsidiary Kiskadee Investment Managers has announced the appointment of former AlphaCat Managers executive Richard Lowther as chief operating officer, confirming a move first reported by our sister publication Trading Risk in January.

Reinsurance rates have fallen sharply across most business classes for business renewing at 1 April, according to Willis Re, adding to the pressures seen at 1 January

Watford Re has successfully raised $1.13bn of capital including a $100mn investment by Arch Capital Group, the Bermudian start-up has confirmed.

Montpelier Re's London-listed Blue Capital Global Reinsurance Fund has postponed its latest planned issue of new shares.

Karen Clark & Company (KCC) has extended its RiskInsight modelling platform to include probabilistic tools that can be used to price risk policies and portfolios of risk.

Oxbridge Re, a start-up reinsurer backed by executives from Florida-based HCI Group, has raised $26.4mn of net proceeds from its initial public offering on the Nasdaq SmallCap Market.

The future of nascent Cayman Islands reinsurer Southport Re looks uncertain because of concerns over its capital base and the quality of assets it has been using to collateralize its underwriting, The Insurance Insider understands.

Blue Capital Global Reinsurance Fund, the London-listed reinsurance investment vehicle managed by Montpelier Re, today (26 March) said it had postponed a long-planned issue of new shares.

The Canada Pension Plan Investment Board (CPPIB) has agreed to buy life reinsurer Wilton Re for $1.8bn from a group of investors led by Stone Point Capital, Kelso & Company, Vestar Capital Partners and FFL.

A Cayman Islands reinsurer linked to Florida-based HCI Group is seeking to raise up to $29.75mn from an IPO on the Nasdaq SmallCap Market, according to regulatory filings.