ILS

The global (re)insurance industry must have been very bad in a previous life, for the amount of other people's suffering we have had to endure since the global financial crisis began has been enormous.

Global reinsurers shrugged off cyclical market pressures during the second quarter, as a number of carriers bolstered their top lines despite ongoing softening of pricing and terms.

Mike Millette's new investment vehicle, Hudson Structured Capital, is expected to target a range of reinsurance sectors as well as transport structured finance, sister publication Trading Risk reported last week.

The Turkish Catastrophe Insurance Pool (TCIP) will close its Bosphorus cat bond on target at $100mn, after having earlier indicated it might expand the bond to $200mn.

State National expects that Nephila will use less of its capacity in 2015 than previously forecast, as it reported $3.2mn in ceding fee income over the second quarter from the fund manager

Catco's London-listed Catco Reinsurance Opportunities Fund has delivered a 4.47 percent increase in net asset value during the first half of the year, compared to 4.3 percent in H1 2014.

Montpelier Re treasurer and CEO of its Blue Capital asset manager Bill Pollett has resigned following the company's merger with Endurance, according to a Blue Capital announcement on the London Stock Exchange

US fronting specialist State National has announced a 31 percent year-on-year increase in second quarter revenues to $46.4mn

AM Best has withdrawn its rating on Validus's hedge fund reinsurer PacRe at the company's request

Endurance bought $100mn of aggregate retrocession cover to protect its portfolio as it prepared for the Montpelier Re takeover, the firm revealed on its second quarter earnings call.

United Insurance Holdings worked with one of its reinsurance partners to source $90mn of third-party capital to set up a captive reinsurer when it renewed its 2015 reinsurance programme.

The latest Bosphorus cat bond from the Turkish Catastrophe Insurance Pool (TCIP) was oversubscribed and the transaction may double in size to reach $200mn, sources told sister publication Trading Risk last week.