ILS

The UK government has appealed to Chinese delegates from the financial services industry to consider London as the home for future Chinese cat bonds

Fronting specialist State National reported strong top- and bottom-line growth for the third quarter and upped targets for the full year.

After a string of worsening underwriting results AM Best has punished hedge fund reinsurer Greenlight Re by downgrading its financial strength rating from A to A- and its credit ranking from a to a-.

USAA's $400mn Residential Re 2016-II cat bond attracted strong investor interest as sources predicted a lacklustre deal volume in the fourth quarter.

It will be "business as usual" at Aeolus Capital Management following the sale agreement with hedge fund manager Elliott Management Corporation, the Bermudian ILS manager's founder Peter Appel told sister publication Trading Risk.

Hedge fund reinsurer Third Point Re has shrugged off deteriorating underwriting performance after a turnaround in its investment portfolio put the carrier back in the black for the third quarter

The (re)insurance industry is moving into a new phase where carriers' expenses will become the focus for many, according to Lancashire CEO Alex Maloney

AM Best has punished hedge fund reinsurer Greenlight Re for its deteriorating underwriting results by downgrading its financial strength rating to A- from A and its credit ranking to a- from a.

London-based hedge fund manager Elliott Management Corporation has agreed to purchase a majority stake in Bermuda-headquartered ILS manager Aeolus Capital Management.

Swiss Re is the sole reinsurer involved in a new catastrophe insurance scheme in the industrial Chinese province of Guangdong, the carrier announced.

Nephila portfolio manager David Long is standing down from the Bermudian firm at the end of the year, Trading Risk revealed last month.

Axis reported $8.1mn of fee income from "strategic capital providers" in the third quarter, up fourfold from $2.1mn a year earlier, after it established casualty underwriting vehicle Harrington Re with Blackstone.