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Capital markets

  • Sompo's acquisition of Endurance will give it a bigger foothold in the insurance-linked securities (ILS) management business, according to half-year 2016 records from sister publication Trading Risk
  • The cat bond market experienced its largest one-week drop since Superstorm Sandy, sister publication Trading Risk reported, with some of the insurance-linked securities transactions that benefit Florida takeout insurers among those written down.
  • Analytics firm RMS has projected a 41.9 percent chance of a $20bn industry loss after putting the path of Hurricane Matthew through its model, according to very preliminary figures obtained by sister publication Trading Risk
  • The cat bond market is likely to recover from the shrinking that occurred in the first half of 2016, according to panellists at the Trading Risk Monte Carlo roundtable
  • Top 10 ILS manager and reinsurer sidecar investor Stone Ridge Asset Management reported that its net asset base had reached $4.95bn by the end of July, up 4 percent from the end of the prior quarter
  • Aon Securities has named an executive from the company's insurance management division, Darren Bailey, to lead the London-based capital markets business, sister publication Trading Risk revealed last week
  • Unipol Re CEO Marco Sordoni has estimated that insured losses from the Italian earthquake in August will amount to just EUR70mn ($78mn)
  • Markel Catco said August returns for the London-listed Catco Reinsurance Opportunities Fund would be 3.5 percent lower due to a loss from the Jubilee oil field event, sister publication Trading Risk reported.
  • Zenkyoren has nearly tripled the target size on its latest Nakama Re cat bond transaction, which at $700mn could be the carrier's largest cat bond to date, sister publication Trading Risk reported.
  • Reinsurers will continue to grapple with a competitive environment characterised by a sharp imbalance between supply and demand in 2017, where the maintenance of even adequate returns is dependent on prior-year reserve releases and benign cat experience.
  • The UK Treasury has confirmed it will put forward the final regulations for implementing the London insurance-linked securities (ILS) framework early next year despite fears that there would be delays following the vote for Brexit
  • Global reinsurers' capital rose by 4 percent year-on-year in the first half of 2016 to reach $585bn, according to Aon Benfield
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