ILS

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

Renaissance Re CEO Neill Currie threw cold water on the idea that growth in the convergence market represented a "watershed" point during the company's earnings call.

RenaissanceRe's rated sidecar DaVinci Re returned profits to investors as it bought back shares worth a net $150mn, while fellow operators Validus and Alterra also began reporting fee income from their post-Tohoku sidecars.

Lloyd's would seriously listen to applications from other alternative reinsurance capacity providers following the entry of Nephila, director of performance management Tom Bolt told The Insurance Insider.

Two specialist ILS fund managers have reshuffled their leadership line-up after their CEOs departed, sister publication Trading Risk reported

The "gather as much as you can" model for insurance-linked securities (ILS) fund managers is not sustainable in the long term, according to Validus CEO Ed Noonan

Pension funds and asset managers were increasingly active in the cat bond sector in 2012, in a trend that some experts say is changing both the alternative and traditional reinsurance markets

Normal service has now been resumed with, firstly, the launch of R&Q's Syndicate 1991, which began underwriting at 1 January with £77mn of capacity, and now the arrival of £100mn Nephila...

The arrival of Nephila at Lloyd's is a progressive development that is to be encouraged...