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A major magnitude 7.8 earthquake that struck Ecuador's central coast on Saturday (17 April), killing 413 people so far, is likely to result in more economic damage than originally thought
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Xchanging said it hoped secondary "trades" of reinsurance contracts would become an integral facility of its X-gRm platform after reinsurance broker TigerRisk announced it had completed the first such transaction.
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Barbican will continue to cede a 15.4 percent whole-account quota share to Credit Suisse Asset Management in 2016 through the fund manager's new Arcus Syndicate.
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Hurricane forecasters are split on the outlook for the 2016 season amid uncertainty over a potential transition to a La Niña weather pattern.
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TigerRisk has added an insurance-linked securities (ILS) structurer to its capital markets team as it prepares to expand its range of capabilities in the alternative reinsurance segment.
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The World Bank and European Commission have agreed a EUR14mn ($15.8mn) deal to back the Caribbean Catastrophe Risk Insurance Facility (CCRIF).
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TigerRisk has transacted the first ever electronic secondary reinsurance trade using Xchanging's new placement platform XgRM
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The net asset value of Stone Ridge's ILS funds increased to $4.4bn at the end of January, boosted by an increase of over 20 percent in the assets of the Reinsurance Risk Premium Interval fund, sister publication Trading Risk reported last week.
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The Lane rate-on-line index rose from 86.6 to 93.1 over the last quarter to indicate that rates have firmed since December, according to Lane Financial's latest quarterly report on the insurance-linked securities (ILS) market.
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The Third Swedish National Pension Fund (AP3) reported total insurance-linked assets of 2.7bn krona ($331mn) at the end of 2015, up from 1.8bn krona in 2014 and 1.6bn krona in 2013, sister publication Trading Risk has reported.
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Reinsurers continued to concede rate reductions at 1 April, with "the reinsurance value proposition for insurance companies" improving in line with 1 January, according to Aon Benfield's renewal report.
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Nephila's Syndicate 2357 declared a profit of $16.7mn for 2015, more than double the $7.9mn reported in 2014, following its first full year of underwriting.
