ILS

The Kilimanjaro Re series of cat bonds sponsored by Everest Re are among a dozen insurance-linked securities (ILS) deals exposed to losses incurred by Hurricane Maria, which hit Puerto Rico as a Category 4 hurricane on 20 September.

Axa Seguros is the largest writer of earthquake cover in Mexico, followed by Seguros Banorte Generali and Seguros Inbursa, according to data from AM Best.

Insurance-linked securities (ILS) fund manager Markel Catco has warned that combined losses from hurricanes Harvey and Irma have the potential to fully erode its annual returns "or more" for 2017.

There is one key factor that will continue to drive insurance-linked securities (ILS) managers' expansion in the primary insurance market: the much bigger size of the opportunity compared to the more niche reinsurance industry.

US wholesale giant CRC Group has launched an alternative capital-backed quota share property facility fronted by Liberty International Underwriters (LIU), The Insurance Insider can reveal.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) will pay the island of Dominica $19.29mn following the passage of Hurricane Maria on the 19 September, it announced today.

Chinese online-only P&C insurer ZhongAn managed to price its initial public offering (IPO) at the top of its indicated range, raising $1.5bn, according to Thomson Reuters' IFR magazine.

Reinsurance pricing could still be impacted by Hurricane Irma, even though the market avoided more significant losses after the storm veered away from Miami, according to Leadenhall Capital Partners CEO Luca Albertini.

Cat bond prices improved at the end of last week as it became clear that Hurricane Irma was not going to be a major threat to the cat bond segment of the insurance-linked securities (ILS) market.

Hong Kong-based reinsurance start-up Nine Merchants Re is in active conversations with investors with funds outside China after encountering obstacles following a clampdown on domestic capital outflows, according to market sources.

ZhongAn's initial public offering (IPO) opened today with an indicative pricing range of HK$53.70 to HK$59.70 ($6.86 to $7.64) per share, according to Reuters.

Private equity-backed outsourced services provider Davies Group has bought Ambant from its director-owners to form the basis of a new insurance services division