ILS
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Japanese mutual Zenkyoren is set to double its Nakama Re cat bond to $300mn, which will be used to form a new indemnity layer at the top of its reinsurance programme, sister publication Trading Risk has reported.
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Aon Benfield Securities CEO Paul Schultz said that 2013 could prove to be an "inflection point" for the insurance-linked securities (ILS) market, estimating that $3bn had entered the sector in the past six months.
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Zurich Insurance Group faces an uphill struggle to dispel investor worries that a below-strength senior management team will prolong a bout of under-performance at the insurer, rocked last week by the apparent suicide of its finance chief and the departure of its chairman.
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Aon Benfield co-CEO Dominic Christian believes that growth opportunities within the catastrophe excess of loss market could lie in capturing a greater share of the business currently served by government-backed insurance schemes.
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Former Hardy Underwriting executive David Carson will lead a new property catastrophe reinsurance division at managing general agency (MGA) Pioneer Underwriting
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Reinsurance stocks could become less attractive to investors as growing competition and "creative destruction" from the insurance-linked securities (ILS) market erodes traditional reinsurers' earnings, according to analysts at Goldman Sachs.
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The impact of the latest RMS Atlantic hurricane model on (re)insurers remains uncertain
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French reinsurer Scor is looking to raise $125mn of cover against extreme mortality risk in the US by issuing a new cat bond under its Atlas series.
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Independent broker BMS is looking to expand into the insurance-linked securities (ILS) market by broking catastrophe bonds and other capital market products.
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P&C reinsurers are being both "defensive and offensive" as they scramble to build a track record in third-party management in response to the wave of capital markets capacity entering the sector, according to AM Best.
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A collateralised reinsurance deal for the Texas Windstorm Insurance Association (TWIA) has resulted in the debut bond issuance from service company Kane's private cat bond platform.
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Qatari-backed collateralised reinsurance fund Catco now has a 20 percent share of the retro market, according to the London-listed firm.