ILS

The insurance-linked securities (ILS) industry needs to become more transparent, said Eveline Takken-Somers, investment director at PGGM.

The "unshackling" of the traditional reinsurance value chain from the past creates opportunities for risk carriers, Everest Re chief underwriting officer John Doucette said at the Trading Risk Convergence London conference on 16 June.

Nephila's Velocity Risk Underwriters is on course for a July launch in the coastal voluntary homeowners' market after building out its personal lines platform.

A flexible capital structure with both rated and unrated capital is needed for reinsurers to succeed in the "new world order", according to Everest Re chief underwriting officer John Doucette

Nephila and fronting partner Allianz Risk Transfer (ART) have successfully piloted the use of blockchain technology for transacting a catastrophe swap

American Strategic Insurance has told investors in its $200mn Gator Re cat bond that tornado losses incurred this year have eroded almost 70 percent of the deal's deductible, sister publication Trading Risk reported last week

Nephila and MS Amlin both slashed their lines on the $1bn Florida Hurricane Catastrophe Fund (FHCF) reinsurance programme when it renewed at 1 June.

Nephila's fronting partner Allianz Risk Transfer (ART) raised the target for its Blue Halo Re cat bond to $185mn from $150mn as pricing on the high-risk transaction moved towards the upper end of forecasts, Trading Risk reported last week.

Leading Florida carrier Nephila Capital has withdrawn significant capacity in this year's June renewals, sister publication Trading Risk reported last week.

The Texas Windstorm Insurance Association (Twia) has obtained a $350mn reinsurance deal to provide coverage for 2017 in the event that losses this year erode its surplus

The Insurance Council of Texas (ICT) estimates that industry losses from hailstorms that struck the state in March and April have now surpassed $3bn.

The most senior London-based executive at Aon Securities, Chris Parry, has left the broker-dealer and is expected to shortly join RenaissanceRe Ventures, sister publication Trading Risk reported last month.