Capital markets

Total capital returned by our Bermuda composite slipped by 11.6 percent to $505mn in the second quarter of 2014 as share buyback activity moderated during the period.

The recent impasse in new catastrophe bond issuance has ended with workers' compensation insurer the California State Compensation Insurance Fund seeking to renew its Golden State Re earthquake bond at $150mn.

AM Best has defended its rating process for hedge fund reinsurers and reasserted its view that the model is a viable strategy that can be successful when executed properly.

Retro MD leaves Aon Benfield; AmTrust settles with med-mal writer Murphy; Hancock succeeds; Cat in check; Bermuda grows; Consortium expands; NKSJ rebrands; Speare-Cole out; Napa at $1.5bn; ILS gain; Cyber bridge; Golden State Re renews; Fisher leaves...; ...As does Milligan; Atrium hires Weigall; Canopius hires Law; Buffett's $3bn bite; Low losses; Golub pulled; Munich Re marine

The Insurance Insider's Data Room finds that while all the global reinsurers agree on the competitive pricing conditions, they are adopting different approaches to navigating the soft market

Top-line growth accelerated for Bermudian carriers during the second quarter, as cheap retrocession and a continued propensity for insurance growth counteracted tough market conditions in reinsurance.

Florida start-up SafePoint Insurance Company has revealed the details of its 2014 reinsurance programme, which includes multiple event cover with a top or drop (ToD) layer.

Catco chairman Nigel Barton said the firm's London-listed Catco Reinsurance Opportunities Fund was on track to outperform its 12-15 percent target return for 2014 after its net asset value gained 4.27 percent in the first half.

Increased competition in the global reinsurance sector will see earnings curtailed in 2014 and 2015, according to a report from Standard & Poor's (S&P).

(Re)insurance stocks moved further into the red last week as the performance of The Insider 30 index fell back by 0.32 percent, led by continental reinsurers.

Zacks has downgraded its rating on property catastrophe reinsurer Blue Capital Re from outperform to underperform following the release of the firm's second quarter results.

Allied World more than doubled the limit on its retro programme to $250mn upon renewal in the second quarter, the firm's chief financial officer Tom Bradley said on an earnings call.