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ILS

  • Rising marine rates have attracted ILS investors but they otherwise show limited interest in venturing beyond the catastrophe perils that make up the bulk of their portfolios, according to a leading ILS fund manager.
  • RenaissanceRe expects to reduce its top line gross premiums by circa 10 percent next year because of continued price competition.
  • Scor is in the early stages of talking to investors about a proposed retro sidecar for 2014, sister publication Trading Risk has revealed.
  • Lloyd's can withstand the competitive challenge posed by the rise of alternative reinsurance capital, according to Brit Insurance CEO Mark Cloutier.
  • Safepoint Insurance Company looks likely to become the latest Florida insurer to launch with a mandate to depopulate policies from state-backed carrier Citizens, The Insurance Insider can reveal.
  • The insider trading plea deal that SAC Capital Advisors agreed with federal prosecutors last week is expected to hasten the sales process for the stake the beleaguered hedge fund holds in the Bermudian reinsurer it founded.
  • Brit Insurance CEO Mark Cloutier paid a glowing tribute to the Lloyd's business model and its ability to fight off the current threat from so-called alternative (re)insurers
  • Credit Suisse Asset Management has hired former Aon Benfield retro broker Nicky Payne for a new role as head of origination, sister publication Trading Risk revealed last month
  • Montpelier Re plans to raise $125mn from the initial public offering (IPO) of Blue Capital Re, according to an updated prospectus filed with the Securities and Exchange Commission
  • Sirius Group CEO Allan Waters said the company's new Sirius Capital Markets division should begin raising third-party capital this quarter
  • Axis CEO Albert Benchimol said the (re)insurer has done a couple of small third-party deals "which look a lot more like retro than anything else", but that he expects the company's progress in this area to be gradual
  • The RBS Group Pension Fund added £139mn to its reinsurance-linked assets in the year to 31 March 2013, according to its latest financial results