Pol risk, credit & surety

Allianz-owned credit insurer Euler Hermes has reportedly pulled cover from suppliers to fashion retailer New Look.

Munich Re has raised a second round of capital for the 2018 incarnation of its Eden Re sidecar, according to a Bermuda Stock Exchange filing.

Two reinsurance fund managers have announced losses for 2017, providing an early indicator of the impact of second-half cat losses on the insurance-linked securities (ILS) and sidecar market

Lloyd's insurer Neon confirmed it had established the first UK-based reinsurance sidecar, NCM Re, as it raised $72mn of capital for the vehicle

Dutch pension fund provider PGGM raised a further $260mn of securitised notes via its Leo Re vehicle just before Christmas, according to a Bermuda Stock Exchange (BSX) listing.

A flurry of deals at the end of last year took total cat bond lite issuance to $1.17bn for 2017, up over 400 percent from 2016's $212.81mn.

Validus Re's first cat bond proved to be popular with investors, expanding by 23 percent over the course of marketing to reach $400mn.

Political violence insurers are set to pay out around EUR25mn ($29.4mn) to the owners of a Libyan cement plant that was stormed by jihadists in 2016, The Insurance Insider can reveal.

The UK trade credit insurance market has been hit by a series of claims in recent months, prompting discussions on potential rate increases.

Nimbla, a trade credit insurance start-up, is on the hunt for series A funding.

Risk transformation regulations that will allow for an insurance-linked securities (ILS) regime in the UK have been passed by parliament

Markel Catco will raise gross proceeds of $543mn from the sale of new shares in its London-listed Catco Reinsurance Opportunities Fund, taking the fund manager's total new capital raised following third quarter losses to $2.3bn.