ILS

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

Start-up asset manager Stone Ridge has lifted its initial fundraising target from $500mn to $600mn for a new closed-ended fund

Bermudian Aspen is understood to be putting the final touches to its first sidecar...

It is understood that Aspen Re will shortly announce its first sidecar, Silverton Re, which is expected to launch with circa $65mn of capital, sister publication Trading Risk revealed earlier today (30 October).