ILS

The significant number of maturing bonds and ongoing favourable environment for sponsors could push cat bond issuance for 2017 to $8bn, insurance-linked securities (ILS) brokers said.

Partner Re launched a retro sidecar using its own capital at the 1 January renewals, sister publication Trading Risk reported.

AlphaCat, the asset management arm of Validus, has grown to $2.7bn in assets, the Bermudian (re)insurance group announced today.

RenaissanceRe has confirmed it set up the $140mn Fibonacci Re vehicle, which was established in Bermuda in late December, to provide it with more property catastrophe capacity.

Willis Capital Markets & Advisory's private cat bond platform Resilience Re has completed a $187mn deal, its largest transaction so far.

A few overarching themes continue to shape the reinsurance segment as 2017 begins, including excess capital, a squeeze on margins and an active M&A market as carriers reach for growth.

Hedge fund manager Elliott Management has completed its acquisition of a majority stake in insurance-linked securities manager Aeolus, sister publication Trading Risk reported.

Brit has renewed and increased the collateralised reinsurance capacity provided by its Versutus sidecar by 33 percent, it announced today

Reinsurance capital increased by 5.3 percent to $595bn through the first nine months of 2016 in a turnaround from the 2 percent decline recorded for the full-year 2015, according to an Aon Benfield report following the 1 January renewals

Third Point Re's investment management arm Third Point LLC has posted a return of 0.5 percent for December, taking the year-to-date result to 4.3 percent

RenaissanceRe has set up a new $140mn reinsurance sidecar dubbed Fibonacci Re, which will write property catastrophe business.

Cat bond issuance volumes continued to decline in 2016, which led to bargains for some sponsors as the year progressed.