ILS

Insurers domiciled in the US sharply reduced their hedge fund investments last year, cutting their aggregate exposure 28 percent to just under $18bn, according to AM Best.  

Simon Fascione has departed Aeolus nearly four years after joining the Bermudian asset manager in 2013, sister title Trading Risk revealed yesterday.

Aon Securities reiterated its forecast for $8bn of new cat bond deals to be issued in 2017, which would make it the insurance-linked securities (ILS) market's biggest year since 2014

One of the senior executives at Hiscox Re's insurance-linked securities (ILS) platform, Michael Jedraszak, has resigned four years after helping to establish the division, sister publication Trading Risk revealed last week.

New York's Metropolitan Transportation Authority (MTA) is looking to renew its cat bond cover after its previous insurance-linked securities (ILS) protection lapsed midway through 2016, sister publication Trading Risk reported

The Texas Windstorm Insurance Association (Twia) has significantly pared back its core cat reinsurance ahead of the 2017 hurricane season, The Insurance Insider can reveal.

Florida's state-backed insurer Citizens has put out firm order terms for its 2017 cat programme that include a further reduction in the overall limit it is placing but an increase in traditional reinsurer participation, The Insurance Insider can reveal. 

April has brought forth more cat bond transactions than the whole of first quarter of 2017, with $3.08bn of new deals, according to data collated by sister publication Trading Risk.

Start-up MGA Ventus Risk Management, led by former Validus Re executives Stuart Mercer and George Reeth, is preparing to separate the firm's technology platform from its MGA entity with a view to monetising its technology.

Credit insurers have hundreds of millions of dollars in exposure to a default in Mozambique, amid restructuring talks between the country and its creditors.

Third Point Re's investment manager Third Point LLC posted a 1.6 percent return in April, beating the S&P 500 index's monthly return and analyst expectations

Aon Securities has reiterated its position that 2017 is set to become the biggest ever year for the cat bond market, with issuance forecast to come in at $8bn.