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  • New York-headquartered Two Sigma is the prime candidate to buy out SAC Capital's stake in the Bermudian reinsurer it founded last year and save the business from the orderly wind-up some were expecting, The Insurance Insider revealed last week.
  • Lloyd's (re)insurer Catlin is returning to the cat bond market for the first time since 2008 and hopes to raise $175mn of aggregate industry loss-based cover from its new Galileo Re transaction
  • Nephila Capital co-founder Frank Majors has said that reinsurers should act as transformer vehicles and offer traditional indemnity reinsurance at the front while issuing index-based products out the back to tap into the benefits of the rising convergence market
  • Endurance has lured two more senior underwriters from Axis Capital with Richard Allen and Ian Bowler set to join Graham Evans' new London-based international insurance division, The Insurance Insider can reveal.
  • The non-life cat bond market saw a total issuance volume of $1.45bn during the third quarter and is now at a record $17.9bn in terms of outstanding capacity, according to Munich Re's latest Q3 market review
  • Liberty Mutual is set to restructure its casualty reinsurance programme at renewal by cutting its spend by around a half, The Insurance Insider can reveal.
  • AIG's chief reinsurance buyer Samir Shah has criticised the plethora of advisers required for a typical cat bond transaction, in a speech that may offer some succour to traditional reinsurers feeling the competitive squeeze from alternatives
  • The NYSE-listed reinsurer Platinum opened the earnings season for Bermuda-based (re)insurers with reported net income of $38.3mn, down significantly from the $84.9mn it reported in Q3 2012
  • Analysts expect US-listed P&C (re)insurers to report mostly stronger third-quarter earnings over the next three weeks relative to the second quarter, helped by subdued catastrophe claims and stable bond yields
  • Munich Re predicts; Australia wildfire; Ace appoints; Compre buys; ERM stutters; Hannover Re expects; Invesco exit; Hiscox hires; Uniqa upgraded; Q-Re appoints; Linked in; Gibraltar motors; US life; Mapfre buys; Hailstorm hit; FP departure; Echo Re upgraded; Swiss Re sells; Lloyd's on track; R&Q transfers; Syndicate auctions