ILS

American International Group (AIG) has included new specialty risks not previously seen on the cat bond market in its $100mn Tradewynd Re cat bond, which will be the firm's first insurance-linked securities transaction with an indemnity trigger.

Assurant's new Ibis Re cat bond became only the second deal of 2013 to price above broker guidance as a quartet of new bonds neared closure last week, sister publication Trading Risk reported.

Credit Suisse insurance-linked securities (ILS) manager Niklaus Hilti estimated that the ILS market offers about $32bn of limit in a recent presentation summarised by Credit Suisse analyst Michael Zaremski.

P&C reinsurers are unlikely to make short-term gains by developing third-party fund platforms because the management fees involved will not be sufficient to fully offset the impact of pricing pressures on property catastrophe reinsurance rates

Leading ILS fund manager Nephila Capital has temporarily shut its doors to new investment after adding another $500mn-$1bn of capital in the first half of 2013, in a sign that ILS funds are struggling to find attractive opportunities amid falling cat prices

Validus shares closed down almost 4 percent today as investors reacted negatively to a Credit Suisse note highlighting the pressure property-cat focused reinsurers are coming under from the insurance-linked securities (ILS) market.

American International Group (AIG) is seeking a preliminary $100mn from its new cat bond Tradewynd Re, which will be the firm's first insurance-linked securities (ILS) transaction with an indemnity trigger

Reinsurers are ‘pretending on cat margins', Charman warns

Property cat rates are under pressure, as the 1 June Florida renewals demonstrated, and the blame is being directed at alternative capacity

Sharon Binnun, the chief financial officer of Citizens Property Insurance Corporation, is leaving the firm after six years in the role.

Germany-headquartered insurance holding company Talanx has disclosed net losses from the recent Central European floods as less than EUR250mn.

Swiss investment manager Twelve Capital has increased its total assets under management (AuM) to almost $2bn after agreeing to take over the management of Falcon Private Bank's insurance-linked securities (ILS) funds.