ILS

Lancashire recorded a minor dip in income from asset management platform Kinesis in 2016, but the company's chief financial officer Elaine Whelan said the unit made a stable contribution to the group's return on equity (RoE).

AIG has taken steps to increase its reinsurance protection against catastrophe volatility in the past year after it halved the trigger point of its US property catastrophe reinsurance programme.

Florida Citizens Property Insurance is planning to spend under $100mn to buy just $1.1bn to $1.3bn of total reinsurance limit in the mid-year renewals.

Cincinnati Insurance expanded a collateralised reinsurance deal to $200mn in size after its $100mn Skyline Re cat bond matured, the company said on an earnings call.

Modelling agency RMS has said that annual average losses for US hurricane activity will come in notably lower under the 2017 update to its medium-term storm model.

AmWins CEO Steve DeCarlo has given a wide-ranging defence of the role of the wholesale broker, as the sector continues to look for signs of a credible disrupter.

Neon today confirmed the appointment of Nick Pritchard as head of property reinsurance, as first reported by sister publication Trading Risk in September last year

Cincinnati Financial’s insurance unit renewed its Skyline Re cat bond as a private placement, raising $180mn of reinsurance limit and expanding its coverage, JLT Capital Markets said.

Fairfax Financial has come up $500mn short in its efforts to capitalise an Africa-focused investment fund by selling equity in the venture.

RenaissanceRe reported a $92mn net increase in the size of its retro-focused Upsilon collateralised funds at 1 January, as CEO Kevin O'Donnell said new demand helped create an opportunity for the reinsurer to grow its book.

Cat bond market conditions are extremely favourable to sponsors and it would not be surprising to see a record volume of deals this year, Swiss Re Capital Markets said in its annual insurance-linked securities (ILS) review.

Hannover Re placed a new EUR100mn ($108mn) aggregate retrocession cover at the 1 January renewals as it also expanded the size of its K-Cession sidecar.