ILS

Validus looks set to secure a premium takeout multiple relative to other recent Bermudian sellers after AIG agreed to acquire the business for $5.56bn, or 1.58x fully diluted book value.

The AlphaCat asset management franchise appears to have played a major role in AIG's decision to bid for Validus, and if the deal closes it will be the first time that a major global insurer has owned an alternative asset management platform of scale.

Validus Re CEO Kean Driscoll has told counterparties that the reinsurance platform will have room to significantly expand under AIG ownership

The Catco Reinsurance Opportunities Fund missed its expected result for 2017 after posting a 27.6 percent loss for the year following claims deterioration from the October wildfires in California.

The top 10 insurance-linked securities (ILS) managers grew their assets under management (AuM) to $62bn at January 2018, according to figures from sister publication Trading Risk's latest biannual survey of the sector.

Argo Group has renewed its Harambee Re sidecar for 2018 but did not reveal its size

London has an unfair reputation for always being rainy, but it's true there's one form of precipitation it specialises in - the kind of misty drizzle in which millions of tiny droplets combine to become just unpleasant enough to make you get the umbrella out.

Cat bond issuance reached a record $11.1bn last year as sponsors took advantage of low rates and an overhang of supply from 2016 to buy cover

United Insurance Holdings (UPC Insurance) placed pared-back aggregate cover with a single reinsurer as it renewed its quota share at 1.1

Leading insurance-linked securities (ILS) manager Nephila Capital wrote a $1bn line on AIG's expanded catastrophe reinsurance programmes for 2018, sister publication Trading Risk has revealed

Two reinsurance fund managers have announced losses for 2017, providing an early indicator of the impact of second-half cat losses on the insurance-linked securities (ILS) and sidecar market

Lloyd's insurer Neon confirmed it had established the first UK-based reinsurance sidecar, NCM Re, as it raised $72mn of capital for the vehicle