ILS

The AlphaCat Re 2011 sidecar run by Bermudian reinsurer Validus has expanded to around $280mn, according to sources.

Hedge funds are showing renewed interest in the reinsurance sector after the 2011 catastrophe losses, according to AM Best.

Bermudian collateralised reinsurance writer Aeolus raised and deployed about $1.2bn in capital over the past year as it evolved from a private equity partnership into a third party funds manager, sister publication Trading Risk has reported.

The cat bond market missed a chance to grow in 2011 as it failed to compete sufficiently on pricing, Willis Capital Markets & Advisory (WCMA) argues in its latest quarterly update on the segment.

The California earthquake bond Embarcadero Re has closed, raising $150mn reinsurance for state insurer the California Earthquake Authority (CEA) in the second issuance from the platform.

RenaissanceRe's global chief underwriting officer Kevin O'Donnell says the firm's new sidecar Upsilon Re helped it expand into what he described as a dynamic and dysfunctional retro market at the year-end renewals.

Catlin Group has been approached by a number of companies eager to follow suit since it announced its special purpose syndicates (SPSs) with China Re and Everest Re, says CEO Stephen Catlin.

RenaissanceRe has confirmed that it has launched a new sidecar Upsilon Re, which will target collateralised retrocession business

A quartet of January cat bonds raise $643mn while a restructured Zenkyoren bond sees a price rise

Industry loss warranty (ILW) trading will expand 10-25 percent this year to reach volumes of $6.5bn-$7.5bn, taking it back to levels last seen in the 2006-07 hard market following hurricanes Katrina, Rita and Wilma

Capital markets boosts Aon Benfield; Validus sidecar writes $76mn; Aquiline buys Juniperus

RenaissanceRe launches Upsilon Re as 2011 vehicles reload but investors remain cautious