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ILS

  • Ace launches $95mn sidecar Altair Re
    Ace Limited has entered the sidecar arena with the launch of $95mn special purpose vehicle Altair Re to provide additional collateralised capacity for its global reinsurance business.
    16 April 2013
  • Turkish bond upsizes
    The Turkish Catastrophe Insurance Pool (TCIP) lifted the size of its planned cat bond to $250mn from a $100mn target after pricing guidance on the deal dropped below the initial lower-end indications, sources said.
    15 April 2013
  • Collateralised reinsurance growth accelerates
    The collateralised reinsurance and retrocession markets have seen the greatest growth in the alternative reinsurance space over the past nine months, according to estimates from Guy Carpenter.
    15 April 2013
  • Cat bond investors increasingly willing to undercut traditional reinsurers
    The somewhat clunky term "decoupling" is becoming increasingly popular in the insurance linked securities (ILS) market as an explanation for the mismatch in pricing cat risk between alternative and mainstream reinsurance underwriters.
    15 April 2013
  • Canny retro buying pays off for Tokio Millennium
    Canny retro buying enabled Tokio Millennium Re to reduce its net Sandy loss to a mere $0.5mn - equivalent to one-hundredth of the firm's $52.4mn US crop loss - the company's 2012 annual report shows.
    15 April 2013
  • Citizens upsizes traditional placement as Florida demand grows
    Florida Citizens Property Insurance has given cat reinsurers a boost by upping the traditional open market portion of its cat programme by more than $100mn, The Insurance Insider can reveal.
    10 April 2013
  • Capital markets driving down US cat rates
    Catastrophe reinsurers are readying for a tough battle at the mid-year US wind renewal amid a growing capital markets presence that threatens to lead to tumbling rates and underutilised capacity, the April edition of The Insurance Insider reveals today
    10 April 2013
  • Florida demand spike led by Citizens
    Citizens is placing more than $100mn of additional limit in the traditional open market portion of its reinsurance programme this year, after coming in well under budget on its most recent Everglades Re cat bond issuance
    10 April 2013
  • Tide of collateralised capacity adds to record reinsurance capital
    The key driver in creating a buyers' market for US property cat reinsurance at the forthcoming 1.6 and 1.7 renewals is mounting non-traditional capacity, which is adding to record industry capital levels
    10 April 2013
  • Aggregate appetite grows
    The appetite of collateralised reinsurers for writing aggregate cover has already been strongly demonstrated with examples including AIG and ICAT's restructures. The trend will continue...
    10 April 2013
  • Pelican Re fishes for new Louisiana cover
    Louisiana Citizens Property Insurance is marketing a new $100mn cat bond, called Pelican Re, while the North Carolina wind pools' Tar Heel Re issuance has closed at $500mn
    10 April 2013
  • ILS yields head down as market softens
    The cat bond market is softening rapidly, with average premiums or rates-on-line down by 3 percent over the past quarter
    10 April 2013
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