ILS
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SAC Re backer SAC Capital Advisors has been making front page headlines recently as former staff face insider trading prosecutions. The Wall Street Journal reported that the company has warned staff and partners that it could face client withdrawals of $1bn or more this year.
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Steven Cohen's SAC Capital Advisors is being sued by investors in the pharmaceutical company Elan, who allege that the hedge fund engaged in illegal insider trading in the firm's options before clinical trial results were released...
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The high proportion of marine claims from Hurricane Sandy means that Property Claim Services industry loss estimates for the disaster are unlikely to match the final claims tally...
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Property catastrophe pricing may have come in broadly flat at 1 January but the market for sidecar renewals and launches proved to be buoyant...
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Asia Pacific reinsurance start-up Peak Re was met with "overwhelming demand" when the $550mn entity started underwriting ahead of the 1 January renewals, its founders told The Insurance Insider
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Back in the infancy of the catastrophe bond marketplace, many (re)insurance practitioners gave a cautious welcome to the new capacity being brought to bear on their tightest cat markets…
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The newly listed Blue Capital Global Reinsurance Fund deployed $57mn of capital in the January reinsurance renewals, making up 58 percent of its net IPO proceeds, according to a statement released today (15 January).
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Everest Re has become the latest reinsurer to step into the third party managed capital space with the formation of a Bermudian sidecar-style vehicle Mt Logan Re, Ltd which is targeting launch capacity of $250mn
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AlphaCat Managers, the investment advisory arm for Bermudian reinsurer Validus, has raised an additional $404.4mn of third-party capital for investment in a new sidecar and, for the first time, insurance-linked securities (ILS)
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Listed retrocession provider Catco has written off its remaining exposure to the Costa Concordia cruise ship sinking after the International Group of protection and indemnity insurers increased its loss estimate for liability claims from the disaster to $744mn, as reported by The Insurance Insider last December.
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Argo Group has set up its first sidecar for the 2013 accident year, Harambee Re 2013-1
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Convergence pioneer RenaissanceRe has written $185mn of collateralised limit through Upsilon Re II, the latest incarnation of its retro sidecar.