ILS

US hedge fund ValueAct Capital has upped its stake in Willis Group to 7.5 percent, regulatory filings show.

Berkshire Hathaway remains embroiled in a dispute with global reinsurer Swiss Re over a life reinsurance transaction that the investment conglomerate has claimed could cause damages of up to $1bn.

UK life insurer Legal & General (L&G) has completed its second longevity insurance deal, which covers £3.2bn of pension obligations, and has reinsured 70 percent of the transaction with Hannover Re.

RenaissanceRe CEO Neill Currie said the company is likely to do more "transformer" business where it acts as an intermediary for third-party capital and protection buyers, while speaking at the recent Bank of America Merrill Lynch insurance conference.

Bermudian insurance-linked security (ILS) fund manager Nephila Capital has grown its assets under management by more than $2bn over the past 18 months.

Lancashire says its new third-party capital management division will take time to develop but the firm is committed to building a (re)insurance fund manager.

Swiss Re is expected to launch a contingent capital bond transaction (CoCo) and is planning to hold a series of investor meetings ahead of the deal, according to Dow Jones

Lancashire will return $220mn to shareholders - almost all of its $236.8mn 2012 net pre-tax profit - as it found it had "significant excess headroom" amid a flat pricing environment at the January renewals

Endurance has ended its search for a CEO of global reinsurance by appointing Jerome Faure, who will join the Bermudian from Don Kramer's start-up fund manager ILS Capital Management next month

As the 20 February P&I renewal deadline approaches, increases in the International Group (IG)'s P&I pricing have filtered through to terms for the aggregate retro cover that protects its captive Hydra, The Insurance Insider has learned

Reinsurers should try to capture pension fund interest in the (re)insurance sector to benefit the Lloyd's market, Amlin CEO Charles Philipps has said.

Hannover Re said it bought more excess of loss (XoL) retro for 2013 as it reduced its "K" quota share by almost 6 percent in the January renewals.