ILS

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.

Ariel veteran Don Kramer is still hoping to launch a new fund from his start-up manager ILS Capital Management in order to write business at the mid-year renewals, he told sister publication Trading Risk.

Lancashire's new tail-risk retro/reinsurance product sold through its $250mn Saltire Re I sidecar did not take off as planned at the 1 January renewals, leading the company to return the bulk of capital to investors just three months after its launch, sister publication Trading Risk revealed.

Reinsurers must embrace the new capital flooding into the market or face watching their businesses shrink, Amlin CEO Charles Philipps has said.

London-listed cat reinsurance fund manager Catco has net loss reserves of $140mn for Superstorm Sandy and $37.5mn for Costa Concordia, according to its full-year 2012 results