Markel Catco's Reinsurance Opportunities Fund reported annual returns for ordinary shareholders of 8.12 percent in 2016, down from an 11.6 percent gain in 2015, following a series of major loss events
The significant number of maturing bonds and ongoing favourable environment for sponsors could push cat bond issuance for 2017 to $8bn, insurance-linked securities (ILS) brokers said.
American Strategic Insurance has told investors that 2016 storm losses covered by its Gator Re cat bond have reached $195mn, surpassing the bond's $175mn trigger point, sister title Trading Risk understands
XL Bermuda has turned to the cat bond market to line up as much as $1bn of retro cover in what is one of the largest transactions at launch in the insurance-linked securities (ILS) market's history, sister publication Trading Risk reported last week.