ILS

American Strategic Insurance Group has become the first Floridian insurer to tap the cat bond market in 2014 with its debut offering, the $125mn Gator Re.

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Hannover Re can draw on just over $320mn of retrocession cover from its longstanding quota share programme for 2014, sister publication Trading Risk reported in its February edition.

Swiss Re, the world's second-biggest reinsurer, has reported a steeper drop in gross premium volume at the 1 January renewals than its European big three peers Munich Re and Hannover Re.

The advent of non-traditional capital in the casualty treaty space could change the landscape of the market because of its structural advantages when it comes to pricing risk, according to Andrew Newman, global head of casualty at Willis Re.

The London-listed collateralised retro writer CatCo has hired the alternative reinsurance duo Charlie Vaughan and Rick Montgomerie as directors of underwriting.

The London-listed collateralised retro writer CatCo has hired the alternative reinsurance duo Charlie Vaughan and Rick Montgomerie as directors of underwriting

Credit Suisse Asset Management, manager of London-listed insurance-linked securities fund DCG Iris, said insured losses from the UK floods could exceed $2bn (£1.2bn) in the biggest loss estimate to date

Willis Re today (19 February) warned that the competitive pressure driving declines in property catastrophe rates is starting to spill over into the casualty reinsurance markets

Catlin Group has created two reinsurance funds with internal capital as it weighs up whether to enter the third-party asset management space, according to the London-listed (re)insurer's founding CEO Stephen Catlin.

Munich Re is seeking to raise up to $100mn from a new Queen Street cat bond that will again cover Australian cyclone risk.

The retrocession market is now significantly more focused on aggregate capacity following the 1 January renewals as demand for occurrence covers shrank, according to Credit Suisse Asset Management's head of insurance-linked securities (ILS) Niklaus Hilti.