ILS
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The insurance-linked securities (ILS) market will face its second claim this year after Lottoland said that its ILS transaction would pay out to cover a EUR14mn jackpot win in a German lottery draw.
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Major reinsurer TransRe was among the sidecar sponsors to expand its retro support in the January renewals, sister publication Trading Risk reported last week.
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Plans for Lloyd's to launch an insurance index in mid-2016 could work in tandem with the push to attract more insurance-linked securities (ILS) business to London, according to International Underwriting Association chairman Malcolm Newman.
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Floridian insurer Safepoint is set to close its second Manatee Re cat bond at $95mn but has dropped plans to issue a layer of notes that would have run alongside its cover from the Florida Hurricane Catastrophe Fund (FHCF), sister publication Trading Risk understands.
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Securis Investment Partners has launched its first Ucits-compliant cat bond fund, continuing the trend for new offerings focused on the liquid side of the market.
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Retro manager Markel Catco will record an uplift to its returns in February after the firm released a portion of its side pocket reserves set aside for potential losses from the UK floods and US convective storms.
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The UK Treasury has provided details on the proposed regulatory framework that it hopes will attract insurance-linked securities (ILS) business to London, envisaging a six-to-eight-week timeframe for the Prudential Regulation Authority (PRA) to approve new structures.
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Hiscox's asset management platform Kiskadee Investment Managers is on track to reach $1bn of assets under management in 2016, the (re)insurer announced as it released its 2015 results.
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Shaky markets in 2015 provided new insurance-linked securities (ILS) investors with further proof of the low correlation of the asset class, K2 Advisors managing director Jonathan Malawer suggested at the Sifma IRLS 2016 conference held in New York last week (24 February).
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Michael Millette's start-up asset manager Hudson Structured Capital Management has lined up funding from Blackstone for a 1 April launch of its reinsurance and transport finance funds, sister publication Trading Risk revealed last week.
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UK government-backed terrorism mutual Pool Re has expanded its retrocessional protection to £1.95bn of limit in excess of a £500mn retention, The Insurance Insider can reveal.
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The UK Treasury is seeking feedback on its initial proposals for an insurance-linked securities (ILS) regulatory framework that it hopes will attract more ILS business to be domiciled and transacted in London.
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