ILS

A flurry of deals at the end of last year took total cat bond lite issuance to $1.17bn for 2017, up over 400 percent from 2016's $212.81mn.

Validus Re's first cat bond proved to be popular with investors, expanding by 23 percent over the course of marketing to reach $400mn.

Rates on loss-hit catastrophe retro accounts surged as much as 30 percent at 1 January, according to Willis Re.

Chaucer has established a $95mn collateralised reinsurance sidecar to provide capacity for Chaucer Syndicate 1084's global reinsurance portfolio

Lloyd's (re)insurer Neon will become the first party to use the new UK insurance-linked securities (ILS) framework after it secured approval from the Prudential Regulation Authority (PRA) to launch a sidecar

Volante Global, the super-MGA founded by ex-Dual CEO Talbir Bains, will commence underwriting in the New Year with seed capital provided by Nephila

At least $3.8bn of new capital has been raised in the space following significant losses from hurricanes Harvey, Irma and Maria (HIM), according to Trading Risk data.

Covea Group's first cat bond has settled below the lower end of initial price targets, according to Trading Risk sources.

United Insurance Holdings (UPC Insurance) has raised $150mn through a public debt offering, which the Floridian carrier has said will enable it to participate in future opportunities.

Markel Catco has increased its fund loss reserves for its Catco Reinsurance Opportunities Fund by 4.4 percent of net asset value (NAV) in response to October's California wildfires.

The International Group of Protection & Indemnity Clubs (IG) has reduced the reinsurance levy charged to its members by 1.85 percent across its vessel categories after securing a fourth year of rate reductions

The Bermudian reinsurance vehicle Collateralised Re operated by LGT ILS Partners has been converted into an AM Best "A" rated vehicle called Lumen Re