ILS

Leading insurance executives are calling on reinsurers and the capital markets to step in with capacity to fill the potential void left by a non-renewal of the US Terrorism Risk Insurance Act (TRIA)

Software and services provider Eurobase Insurance Solutions has announced that it has entered into a contractual agreement to supply its synergy2 underwriting platform to Bermuda-based insurance-linked securities player Horseshoe Group.

Florida Citizens Property Insurance has brought its second Everglades Re cat bond to market and hopes to raise $250mn of cover at a significantly lower price than the 2012 deal, according to sources.

Japanese industry loss warranty (ILW) pricing has fallen by about 25 percent since last year ahead of the 1 April renewal season, sister publication Trading Risk has reported.

Simon Fascione looks set to re-enter the market at Bermudian fund manager Aeolus after his resignation from Lancashire, it is understood

Lancashire has recruited Darren Redhead to head its Lancashire Capital Management (LCM) division following the surprise departure of Simon Fascione

The alternative reinsurance market has increased its share of the $18bn premium global property cat reinsurance market to 15 percent and is expected to make further inroads...

State Farm is returning to the cat bond market with a new Merna Re earthquake issuance.

Reinsurers are likely to pursue third party capital vehicles with longer-term horizons such as cat funds or sidecars in 2013, while the number of temporary, opportunistic structures looks set to diminish, a panel of experts agreed at the annual gathering of professional involved in securitisations.

Allied World has reached a settlement with Hannover Re over a legal dispute relating to two portfolios of US apartment complex property risks it wrote in 2009/10 which were ultimately securitised into the capital markets via an innovative bond.

Underwriters of business with third-party capital will deliver inferior returns to those backed by first-party capital, Keefe, Bruyette & Woods (KBW) analyst Meyer Shields has predicted.

A Florida Senate committee will today (7 March) consider a proposal to allow its smaller domestic property insurers to group together and access capital markets risk transfer solutions such as cat bonds