ILS

Axis Capital's new asset management arm Axis Ventures raised $50mn of third-party capital by the end of 2013

Selective Insurance said that almost 30 percent of its 2014 reinsurance programme was written on a collateralised basis as it added $100mn to the top of its cover.

Munich Re is set to raise circa $100mn from a new Queen Street cat bond as the insurance premium on the deal has fallen due to strong investor demand, sister publication Trading Risk has reported.

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.

Normal 0 false false false E

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