ILS

Allstate Insurance Company is seeking to raise $300mn from a new four-year Sanders Re cat bond in its first nationwide indemnity insurance-linked securities transaction, sister publication Trading Risk reported last week (6 March).

Brit has expanded the collateralised reinsurance capacity of its sidecar Versutus to $150mn, it announced today

The World Bank's Pandemic Emergency Financing Facility (PEF) is on track to be completed this year, according to Michael Bennett, head of derivatives and structured finance at the organisation

Florida Citizens Property Insurance is expecting an increase in business as a result of Demotech's warning that local insurers with less than $25mn surplus may be downgraded, according to its chief financial officer Jennifer Montero

Liberty Mutual's new sidecar may lead the way for further (re)insurance disintermediation, although many primary insurers may not be able to follow, said a Standard & Poor's (S&P) insurance analyst at the Sifma IRLS conference in Miami

Qatar Re strengthened its capital position by raising $450mn through a corporate bond issuance, with demand pushing the yield down to 4.95 percent for the reinsurer owned by the Qatar Insurance Company (QIC).

The California Earthquake Authority (CEA) expanded its maturing reinsurance limit by about $300mn in January to help cover its growing book, it is understood.

Government back-stop financing may ultimately be necessary to cover losses from "uninsurable" extreme catastrophic cyber loss events, Swiss Re has claimed

Scor has reshuffled its leadership responsible for retrocession buying and appointed the former head of its corporate solutions division, Emmanuel Fierens, to the new role of deputy head of underwriting management and retrocession.

IAG will recoup A$106mn ($81mn) from reinsurers on its aggregate programme in 2016 as it reported total natural peril losses of A$420mn for the six months ended 31 December.

A timeframe of six to eight weeks under the proposed London market insurance-linked securities (ILS) framework is unlikely to be competitive, according to Willkie Farr & Gallagher.

United has bought a new 20 percent quota share cover from Nephila Capital and Greenlight Re, the Floridian insurer said on an analyst call after the release of its fourth quarter results