ILS

TigerRisk has transacted the first ever electronic secondary reinsurance trade using Xchanging's new placement platform XgRM

The net asset value of Stone Ridge's ILS funds increased to $4.4bn at the end of January, boosted by an increase of over 20 percent in the assets of the Reinsurance Risk Premium Interval fund, sister publication Trading Risk reported last week.

The Lane rate-on-line index rose from 86.6 to 93.1 over the last quarter to indicate that rates have firmed since December, according to Lane Financial's latest quarterly report on the insurance-linked securities (ILS) market.

The Third Swedish National Pension Fund (AP3) reported total insurance-linked assets of 2.7bn krona ($331mn) at the end of 2015, up from 1.8bn krona in 2014 and 1.6bn krona in 2013, sister publication Trading Risk has reported.

Reinsurers continued to concede rate reductions at 1 April, with "the reinsurance value proposition for insurance companies" improving in line with 1 January, according to Aon Benfield's renewal report.

Nephila's Syndicate 2357 declared a profit of $16.7mn for 2015, more than double the $7.9mn reported in 2014, following its first full year of underwriting.

Credit Suisse is progressing its plans to issue an operational risk insurance securitisation after a major single investor said it would take at least SwF100mn ($105mn) of the transaction, sister publication Trading Risk has reported.

A Chinese state-owned enterprise (SOE) is looking at tapping into the capital markets by issuing a corporate cat bond, sister publication Trading Risk has learned.

US insurer Midwestern Dependable has become the latest cedant to tap the capital markets with a catastrophe bond, The Insurance Insider understands

The industry taskforce established to bring insurance-linked securities (ILS) business to the UK will focus on creating a vehicle structured similarly to Richard Brindle's Fidelis venture, as it seeks to establish London as an ILS hub.

Global alternative asset manager The Carlyle Group has acquired a majority stake in Wholesale Trading Co-Op Insurance Services, a privately-held wholesale insurance broker.

International broking group Arthur J Gallagher (AJG) has confirmed it has agreed to buy Kane’s insurance management (KIM) operations, in a move first revealed by our sister publication Trading Risk in early February.