ILS

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.

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