ILS

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

Mitsui Sumitomo Insurance is to launch a weather parametric product that utilises data from Nasa satellites, according to media reports

Floridian insurer American Strategic Insurance is set to raise $200mn from its Bonanza Re cat bond as strong investor demand pushed the insurance-linked coupon on the transaction below initial targets, sister publication Trading Risk reported.

UK Economic Secretary to the Treasury Simon Kirby has called upon the insurance industry to engage thoroughly with the consultation on the draft regulations for London's insurance-linked securities (ILS) hub.

Zurich-based ILS manager Twelve Capital has taken on $30.0mn of senior debt notes from United Insurance Holdings (UPC Insurance).

Third Point Re investment manager Third Point LLC reported a negative investment return of 1.1 percent in November, in its second consecutive month of negative results

Hiscox will reshuffle its reinsurance division leadership next year when Michael Krefta will take over the Bermuda-based leadership role while Jeremy Pinchin returns to the carrier's London base, the company said

With a more diverse range of owners entering the reinsurance space, will the sector ultimately reward these new investors with vintage returns, asks Fiona Robertson

Arch Capital Group plans to sell $950mn in debt to help finance its $3.4bn acquisition of AIG's mortgage insurance unit United Guaranty Corporation (UGC).

Federated National shares gained as much as 7.5 percent in early trading in New York today after the Florida P&C carrier added a further $10mn  purchasing authority to its stock buyback programme.

The New Zealand Super Fund's reinsurance allocation remained stable at about $200mn in 2016.

Generali is seeking EUR180mn ($192mn) of cat bond cover for its motor third-party liability book through a Dublin-based special purpose vehicle called Horse Capital I DAC, sources told sister publication Trading Risk. ‎