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Capital markets

  • Prominent members of the London (re)insurance community have described collateralised insurance-linked securities (ILS) as extremely dangerous and a huge threat to the London market.
  • Last week we held one of our regular London 100 roundtables attended by senior executives drawn from a cross-section of the London market.
  • If the convergence community was fed up with being talked about at the Monte Carlo Rendez-Vous, the annual Trading Risk roundtable was its chance to be heard
  • Nephila co-founder Frank Majors told a Lloyd's audience today (9 October) that alternative capital providers have a sustainable cost advantage over rated carriers in providing cat cover, as he critiqued the mentality among reinsurers of keeping "capital as hostage"
  • Monte Carlo swung round once again and, if anything, it seemed to be busier than ever this year, with standing room only in the Cafe de Paris and the surrounding hotel lobbies for most of the time
  • Multi-Strat Re, a platform set up to help hedge funds tap into the reinsurance space, has begun fundraising for the first reinsurer to launch through its programme, sister publication Trading Risk has reported.
  • Stone Ridge Asset Management is seeking to raise up to $500mn for a new closed-ended reinsurance fund that will invest in more illiquid assets than its current cat bond-focused strategies.
  • Montpelier Re is seeking to list Blue Capital Reinsurance on the New York Stock Exchange, adding another listed entity to the reinsurer's third-party funds management business.
  • Julian Adams, deputy head of the UK's Prudential Regulation Authority, says the watchdog is closely monitoring the inexorable rise of alternative reinsurance capital
  • Axa has upsized its new European wind cat bond Calypso Capital II to EUR350mn from EUR200mn, reflecting persistently strong investor interest in insurance-linked securities
  • Bermuda-based (re)insurer Montpelier Re said it planned to raise up to $100mn by floating Blue Capital Reinsurance, a newly formed collateralised reinsurer, on the New York and Bermuda stock exchanges
  • Canopius global property CEO Mike Duffy has warned the London (re)insurance market that it must develop its own view of risk and not rely too heavily external models if it is to ward off the competitive threat posed by the booming insurance-linked securities (ILS) market
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