ILS
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Willis Capital Markets & Advisory (WCMA) predicts there will be $6bn-$7bn of non-life cat bond issuance for 2013, but says the record of $7.1bn set in 2007 could be exceeded if cat bond sponsors accelerate their plans.
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The ramping up of planned permanent sidecar Mt Logan Re has been a "slow build", Everest Re president Dominic Addesso said on a second quarter earnings call.
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(Re)insurers XL and Lancashire progressed their fund management platforms last week, with the former unveiling a partnership with Stone Point Capital
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(Re)insurer XL has joined forces with private equity firm Stone Point Capital to form a new Bermuda-based company that will act as an investment manager in insurance-linked securities (ILS) and other reinsurance capital markets products.
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The US government laid criminal charges against four subsidiaries of hedge fund SAC Capital Advisors in relation to insider trading offences in the Southern District Court of New York today (25 July)
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Travelers kept the structure of its main $400mn catastrophe reinsurance programme stable at its July renewal, according to the firm's second quarter disclosures
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Hedge fund SAC Capital, the investment manager and backer of start-up reinsurer SAC Re, could face criminal charges in the US after a long-running investigation into allegations of insider trading, according to reports
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Blackstone Alternative Asset Management (BAAM) has launched a new alternatives-focused mutual fund and has selected leading insurance-linked securities (ILS) fund manager Nephila to act as one of the investment houses that will manage capital for the strategy.
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Axis Capital has become the latest Bermudian reinsurer to debut on the cat bond market with its new $150mn Northshore Re offering, sister publication Trading Risk has reported.
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Total cat bond volumes have surpassed the previous record set in 2007, as investors continue to pour capital into the alternative reinsurance market lured by prospect of the sector's relatively high yields.
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Third Point Re, the Bermudian reinsurer founded by hedge fund boss Dan Loeb, plans to float on the New York Stock Exchange, using the proceeds to grow its underwriting business, the company said late last night.
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Start-up insurance-linked securities (ILS) fund manager Stone Ridge Asset Management has invested a significant sum in Swiss Re's Sector Re sidecar, according to a half-year report filed last week with the Securities and Exchange Commission.