ILS

Swiss Re is marketing its second subordinated contingent write-off security for 2013, following on from a similar issuance back in March.

The California Earthquake Authority (CEA)'s risk transfer programme for 1 August decreased limit by 8 percent to a total of $3.1bn, driven mainly by a reduction in collateralised participation, according to August meeting documents published last week.

Securis Investment Partners has hired AJ Gallagher International executive Neil Strong to head up business development as the London-based insurance-linked securities fund manager looks to expand its investor base globally.

Greg Richardson has become acting head of retro property reinsurance at Markel Global Reinsurance, just three months after leaving Alterra when it was acquired by Markel

Deutsche Bank Asset & Wealth Management has added to its new ILS team with former Lockton Re broker Adam Sayers

The London-listed Blue Capital Global Reinsurance Fund has capped its upcoming fundraising at a maximum of $100mn, the Montpelier Re-backed company told investors on 20 September

Credit Suisse added a small amount to its loss reserves for Superstorm Sandy as it closed a sidepocket of shares in the London-listed DCG Iris fund that was set up after the storm hit New York last year

Montpelier Re's Blue Capital Global Reinsurance Fund is targeting a maximum of $100mn in its latest share placement next month, the company disclosed this morning (20 September)

Markel Global Reinsurance has appointed Greg Richardson as acting head of retro property reinsurance after it lost Martin Vezina to AQR Re

The UK's Prudential Regulation Authority (PRA), the branch of the Bank of England responsible for monitoring the stability of the financial system, is scrutinising the burgeoning insurance-linked securities (ILS) market amid concerns it could allow insurers to transfer risk too cheaply.

Congressman Bill Cassidy has called a group of ILS experts together to look into whether US flood risk could be transferred to the capital markets via catastrophe bonds

An upswing in interest rates and yields from other asset classes is less likely to affect investor demand for insurance-linked securities (ILS) than continued rate softening, Leadenhall Capital Partners CEO Luca Albertini said.