ILS

Validus expects the Jubilee oil field loss to cause industry losses of $1bn-$1.25bn and for rate increases to take place in the beleaguered energy market

Axis Capital increased its reinsurance cessions in the second quarter and has confirmed it is planning to expand its use of third-party capital

Tightening spreads on the cat bond market should lead to a pick-up in activity later in the year after a subdued second quarter, Aon Securities CEO Paul Schultz said in the company's latest insurance-linked securities (ILS) review.

Markel Catco said Canadian wildfire claims will lower the net asset value (NAV) of its Catco Reinsurance Opportunities Fund by 1 percent or about $3.5mn.

Nephila Capital's fronting partner Allianz Risk Transfer more than doubled its target size for its second cat bond of the year, sister publication Trading Risk reported last week.

Nephila's fronting partner Allianz Risk Transfer has more than doubled its target size for a second Blue Halo Re cat bond issuance to $225mn, sister publication Trading Risk reported.

Second quarter catastrophe losses will only have a small impact on the (re)insurance sector, panellists agreed at the Guernsey ILS Insight event in Zurich on 7 July.

The top 10 insurance-linked securities (ILS) funds lifted their collective assets under management (AuM) by 7.7 percent in the half-year to 1 July to reach $48bn, sister publication Trading Risk reported earlier this month.

Assurant scaled back both its limit purchased and retention as it restructured its core US property catastrophe reinsurance programme at the recent 1 July renewal.

The London Market Group (LMG) is launching a white paper today (13 July) at a House of Commons roundtable to discuss the creation of a foreign aid catastrophe bond (FAB)

The insurance-linked securities (ILS) sector's largest fund manager Nephila has confirmed that partner David Oliveira has left the firm.

Lane Financial has said that ILS rates rose 1.6 percent during the second quarter, but maintained that pricing movements after the hurricane season will give a better reflection of the overall direction of the market.