ILS

A $200mn reinsurance vehicle, Leo Re, has listed on the Bermuda Stock Exchange (BSX) in time for the 1 January renewals

American Strategic Insurance has told investors that 2016 storm losses covered by its Gator Re cat bond have reached $195mn, surpassing the bond's $175mn trigger point, sister title Trading Risk understands

The chief executive of Pro Global, which has agreed to sell its services company to a private equity house, said the new owner plans to invest in further growth.

Liberty Mutual has established a new multi-year collateralised reinsurance vehicle, the $160mn Limestone Re, which will provide reinsurance support for its property catastrophe, homeowners' and London market specialty insurance portfolios.

Two Florida insurers have issued debt to insurance-linked securities (ILS) managers in recent weeks, highlighting the fact that a broader group of such companies are prepared to invest in such deals.

Florida Citizens Property Insurance has tentatively set aside $70mn to spend on its reinsurance buying in 2017, as it faces rising losses from water claims and assignment of benefits (AOB) litigation. 

Enstar's legacy-and-live total return reinsurer KaylaRe, which it launched last week (15 December) with capitalisation of $620mn, looks likely to be the final entrant in the recent spate of such carriers to make it over the line.

Scor has renewed a contingent capital facility with an extra EUR100mn ($106mn) of capacity, the company announced today

Insurance-linked securities (ILS) executives said they would like shorter approval timeframes to be introduced into the proposals for a London market ILS regime.

XL Bermuda has turned to the cat bond market to line up as much as $1bn of retro cover in what is one of the largest transactions at launch in the insurance-linked securities (ILS) market's history, sister publication Trading Risk reported last week.

Aspen Re has increased the size of its sidecar, Silverton Re, to $130mn for 2017, it announced today

XL Catlin is seeking to raise up to $1bn of retrocession cover from new cat bond issuances, sister publication Trading Risk reported this morning