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Liquidators of the Mariah Re tornado bond have filed an appeal after a New York district court threw out their lawsuit against bond sponsor American Family Mutual Insurance and service companies PCS and AIR Worldwide.
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Credit Suisse Asset Management (CSAM) has closed its new run-off fund - the ILS Property & Casualty Fund - with $576mn of capital commitments, as of 30 September.
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Kelvin Re has become the latest start-up to join the roster of hedge fund reinsurers after securing an A- rating from AM Best last week, although it is taking a markedly different approach to its peers.
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Arch Re CEO Marc Grandisson has questioned whether the reinsurance market will see a significant shift away from its current "buy and hold" model while also warning that acting more as a warehouse and distributor of risk could lead to "problems down the road".
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Catlin COO Paul Jardine has said that the (re)insurance industry will need its current surplus capital when emerging economies such as China mature and require more catastrophe cover.
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The California Earthquake Authority (CEA) is set to close its latest catastrophe bond at $400mn, $50mn above its initial target, sister publication Trading Risk reported last week. Normal 0
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Private equity firm Aquiline has acquired a majority stake in reinsurance intermediary Beach & Associates, in a move first revealed by The Insurance Insider back in August.
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Lloyd's blue-chip Beazley is working with top-10 global reinsurer Korean Re with a view to establishing a special purpose syndicate (SPS) for 2015 that would form the basis of a risk-swapping arrangement, The Insurance Insider can reveal.
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Catlin COO Paul Jardine believes that even more capital might be needed in the reinsurance market to cope with the growing risk demands of clients.
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Asset manager Crabel Capital Management has launched a Bermudian reinsurer, Crabel Re, which will operate on the MultiStrat Re turnkey platform.
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The Abu Dhabi Investment Council is the sole equity backer of Credit Suisse Asset Management's Guernsey start-up reinsurance vehicle Kelvin Re, a report from rating agency AM Best has revealed.
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Lloyd's performance management director Tom Bolt suggested that the London insurance market may write less catastrophe reinsurance business in the future as he highlighted the cost advantage that alternative carriers have in the market.
