ILS

The government of Gibraltar has announced the introduction of protected cell legislation to target the insurance-linked securities (ILS) reinsurance market

Amendments included in the Bank of England and Financial Services Bill will make it easier to conduct insurance-linked securities (ILS) business in the UK

Lloyd's managing agency Novae has secured approval from the Corporation to establish a special purpose syndicate (SPS) with capital backing from major alternative fund manager Securis, sister title Trading Risk reported late last week.

The London taskforce established to attract insurance-linked securities (ILS) business to London is considering how the Lloyd's market could play a regulatory role in helping business to be done locally.

Lloyd's managing agency Novae has secured approval from the Corporation to establish a special purpose syndicate (SPS) with capital backing from major alternative fund manager Securis, sister title Trading Risk reported late last week.

Standard & Poor's (S&P) has placed its B- rating on the MultiCat Mexico series 2012 Class C notes on creditwatch with negative implications after Hurricane Patricia made landfall on 23 October.

Catco expects to have more than $3bn of capital to deploy ahead of the 2016 renewals, said CEO Tony Belisle after the fund manager raised $88.44mn of gross proceeds from a new share issuance for its London and Bermuda-listed Reinsurance Opportunities Fund.

Government-backed terrorism pool the Australian Reinsurance Pool Corporation (ARPC) is planning to bring in insurance-linked securities (ILS) markets to participate on its A$3.2bn ($2.27bn) retro programme.

Validus CEO Ed Noonan has suggested that the carrier is rethinking its strategy for its hedge fund reinsurance vehicle following another set of losses last quarter.

After several years of increasing its private risk transfer, Florida Citizens will enter a holding pattern for its 2016 reinsurance buying as it prepares for a significant restructure in 2017, The Insurance Insider can reveal.

The cat bond market could be set to make its biggest payout since 2011 as a result of Hurricane Patricia, which hit Mexico as a Category 5 hurricane last week.

Insurance-linked securities (ILS) fund manager Credit Suisse Asset Management (CSAM) now has a second rated platform to draw on following the launch of Humboldt Re last week.