ILS

Dual’s planned syndicate start-up and Beat Capital’s acquisition of Syndicate 4242 point to a Lloyd’s future where the underwriting is distanced from the capital it serves.

The deal, which will give Markel a 20 percent share of the ILS market, could be the industry's first true convergence play.

The ILS manager will continue to use Allianz as a fronting partner after ownership change.

Markel will gain a dominant ILS position and an enhanced business profile, AM Best said, while Moody's noted strategic benefits and enlarged asset base.

The sale will accelerate the fund manager's expansion into the primary insurance markets.

The hire reflects Brit's effort to build out its third-party capabilities and follows the January launch of Sussex Capital.

The organisation is set to replace the $250mn Ursa Re 2015-1 Class B notes which will expire in September.

The executive joined the Hiscox Re and ILS team as a Bermuda-based underwriter in 2012.

The creator of alternative reinsurance securities aims to raise up to $20mn as it expands.

Elementum, Fermat and Credit Suisse make their debut on the cover at the state-backed catastrophe fund.

For the first time in six years, cat bond pricing in relation to assumed risk has started to increase, an S&P report showed.

The ILS manager said it had extracted a 43 percent rate increase from buyers of the retro product and expected rates to hold stable in 2019.