Capital markets

Florida Citizens Property Insurance is expecting an increase in business as a result of Demotech's warning that local insurers with less than $25mn surplus may be downgraded, according to its chief financial officer Jennifer Montero

Liberty Mutual's new sidecar may lead the way for further (re)insurance disintermediation, although many primary insurers may not be able to follow, said a Standard & Poor's (S&P) insurance analyst at the Sifma IRLS conference in Miami

Qatar Re strengthened its capital position by raising $450mn through a corporate bond issuance, with demand pushing the yield down to 4.95 percent for the reinsurer owned by the Qatar Insurance Company (QIC).

The California Earthquake Authority (CEA) expanded its maturing reinsurance limit by about $300mn in January to help cover its growing book, it is understood.

Government back-stop financing may ultimately be necessary to cover losses from "uninsurable" extreme catastrophic cyber loss events, Swiss Re has claimed

Scor has reshuffled its leadership responsible for retrocession buying and appointed the former head of its corporate solutions division, Emmanuel Fierens, to the new role of deputy head of underwriting management and retrocession.

IAG will recoup A$106mn ($81mn) from reinsurers on its aggregate programme in 2016 as it reported total natural peril losses of A$420mn for the six months ended 31 December.

A timeframe of six to eight weeks under the proposed London market insurance-linked securities (ILS) framework is unlikely to be competitive, according to Willkie Farr & Gallagher.

United has bought a new 20 percent quota share cover from Nephila Capital and Greenlight Re, the Floridian insurer said on an analyst call after the release of its fourth quarter results

Lancashire recorded a minor dip in income from asset management platform Kinesis in 2016, but the company's chief financial officer Elaine Whelan said the unit made a stable contribution to the group's return on equity (RoE).

AIG has taken steps to increase its reinsurance protection against catastrophe volatility in the past year after it halved the trigger point of its US property catastrophe reinsurance programme.

Florida Citizens Property Insurance is planning to spend under $100mn to buy just $1.1bn to $1.3bn of total reinsurance limit in the mid-year renewals.