ILS

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

The alternative reinsurance market has now muscled in a 15 percent share of the $18bn premium global property cat reinsurance market and is expected to make further inroads at the expense of traditional underwriters.

Allianz Risk Transfer (ART) has agreed a three-year deal to provide risk capacity for Bermudian fund manager Nephila Capital, marking the first time the pair have formalised their relationship over a longer term

The defunct, George Soros-backed reinsurer Glacier Re has withdrawn from arbitration proceedings and given up its claim to have Hurricane Ike claims covered by its 2008 Nelson Re cat bond

US insurer Nationwide Mutual has added another $270mn cat bond cover through a new Caelus Re issuance, as the coupon on the transaction fell by 2 percent during the marketing process...

In contrast to other recent renewals, the rise of the alternative reinsurance markets is expected to have only a limited impact at 1 April due to Japanese cedants' circumspect approach to non-traditional underwriters

Willis is marketing a new hybrid retrocession product that aims to address buyer fears about the basis risk of index covers, The Insurance Insider can reveal...

London market (re)insurer Lancashire has reiterated its commitment to its nascent Lancashire Capital Management (LCM) initiative after confirming that CUO Simon Fascione is leaving the company

Defunct reinsurer Glacier Re has withdrawn from arbitration proceedings and given up its claim to have Hurricane Ike claims covered by its 2008 Nelson Re cat bond