ILS

The fourth quarter of 2015 saw the lowest catastrophe bond issuance volume for the period since 2009 and the second-lowest since 2005, according to a report from GC Securities.

The top 10 ILS funds have grown their assets under management (AuM) to $44bn - up by 4 percent from six months earlier and 7 percent from January 2015, according to the latest Trading Risk investor survey.

XL managed to trim 50 basis points (bps) off the targeted insurance-linked premium on its new $300mn Galileo Re cat bond, sister publication Trading Risk reported last week.

The Catco Reinsurance Opportunities Fund delivered an 11.58 percent gain for 2015 after UK flooding and US tornadoes impacted returns by 1.75 percent.

Returns from reinsurer sidecars are showing signs of softening but investors are still deriving double-digit results on average as these vehicles have avoided major catastrophe claims.

XL expanded an aggregate retro programme formerly placed by Catlin during the January renewals in what sources described as the biggest ever retro programme, sister publication Trading Risk has reported

Brit increased the collateralised reinsurance capacity provided by its Versutus sidecar by 10 percent at renewal, it announced today (13 January)

The new cat bonds issued last year made up a slightly riskier and more diverse portfolio than in 2014, according to analysis from sister publication Trading Risk

An orderly 1 January reinsurance renewal delivered few surprises and averted a last minute rush as prices decreased across most lines and geographies, albeit at a slower rate, according to Guy Carpenter.

Andreas Lewin has stepped down from his role at XL-Catlin asset management platform New Ocean, our sister title Trading Risk has learned.

Munich Re has raised $360mn of third party capital for its Eden Re II sidecar in 2016, falling short of its target of obtaining $375mn to $450mn of retro support from the vehicle, sources said.

Scor is expected to upsize its new Atlas IX cat bond to $300mn from a $250mn target as the transaction priced at the upper end of initial forecasts, sources told Trading Risk.