ILS

Scor picked up half the longevity risk in a new major hedging transaction completed by Aegon, the parties announced last week.

AIG more than doubled the target size for its second Tradewynd Re cat bond from $180mn to $400mn as pricing on the deal narrowed, sister publication Trading Risk reported last week.

QBE will lift the attachment point of its global catastrophe reinsurance programme by $100mn in 2014, it disclosed in a call with analysts today (9 December).

When Lloyd's (re)insurer Beazley buys its reinsurance/retro at 1 April next year it may consider issuing a catastrophe bond for the first time, according to Canaccord Genuity analyst Ben Cohen, citing a recent conversation with Beazley finance chief Martin Bride.

The alternative reinsurance market has grown to around $45bn from roughly $33bn in 2012, and now has a circa 17 percent share of US property catastrophe business and 11 percent globally, according to Swiss Re.

London-listed (re)insurer Amlin has an option to buy out its joint venture partners in the fast-growing ILS fund manager Leadenhall Capital Partners in 2014

American Family Mutual Insurance and service companies PCS and AIR Worldwide are seeking to dismiss a lawsuit over the $100mn Mariah Re tornado bond payout as they maintain that the claim was based on accurate data.

Retro rates have continued to tank in the run-up to 1 January as capital-rich collateralised writers chase a relative dearth of risk, according to a variety of sources.

Aspen Re has kicked off its third-party funds management business by launching a $65mn sidecar, Silverton Re, as first predicted by sister publication Trading Risk in late October.

Aspen Re has kicked off its third-party funds management business by launching a $65mn sidecar, Silverton Re, as first reported by sister publication Trading Risk in late October

XL and Stone Point Capital have named their new reinsurance fund joint venture New Ocean Capital Management and confirmed the hire of CIG Re and New Castle Re founder Chris McKeown to lead the business.

AIG is taking another shot at adding to its innovative Tradewynd Re cat bond cover, as the insurance heavyweight commits to giving investors more information on the complex portfolio of risks that are securitised in the structure