ILS

GC Securities confirmed last week that it has hired Des Potter from rival broker Aon Benfield to work in a newly created role within its merger and acquisition (M&A) advisory arm.

The ILS market will stagnate if it tries to build a broadly diversified base, according to Mark van Zanden, Catlin's head of outward reinsurance.

European insurance giant Axa's latest Calypso Capital cat bond shows how the insurance-linked securities (ILS) market is benefiting from data provided by European loss reporting agency Perils, structuring agent Swiss Re Capital Markets said as it confirmed details of the EUR180mn deal.

As it has matured and gained confidence, the cat bond market has shown it is willing to take on more risk, Aon Benfield Securities' president Paul Schultz said at the Trading Risk New York conference last week.

Swiss Re is considering setting up a platform to transform industry loss warranties into bond format, allowing multiple (re)insurers to access smaller amounts of protection from the capital markets

If imitation is the sincerest form of flattery, then hedge fund wunderkind David Eirnhorn should be thrilled by the reinsurance tributes paid to Greenlight Re.

With property cat underwriters typically predicting modest rate increases at the 1 January renewals, hedge funds appear increasingly keen to support new reinsurance initiatives that are set begin underwriting in 2012, The Insurance Insider can reveal.

Deteriorating conditions in the municipal bond market could leave the Florida Hurricane Catastrophe Fund (FHCF) with a 12-month funding shortfall of $3.219bn should an event go through the top of its coverage.

Dear hedge fund manager, it has come to our attention that you have recently been approached with a view to investing in the reinsurance market.

Bermudian reinsurers are increasingly utilising quota share arrangements with US and international insurers and collateralised reinsurers to support their property cat portfolios and help manage peak capacity.

Towers Watson Capital Markets (TWCM), the capital markets arm of reinsurance broker Towers Watson, has hired Michael Popkin as co-head of its insurance-linked securities (ILS) operation.

Aim-listed BP Marsh reported a 4.3 percent increase in half-year net asset value (NAV) to £48.5mn as it continued to benefit from the rapid growth of expansionist broker Hyperion