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Capital markets

  • Lancashire's Kinesis third-party vehicle shrank slightly for 2016, the company's head of investor relations Jonny Creagh-Coen told sister publication Trading Risk last week.
  • Markel Catco has appointed Mark Way as chief operating officer with immediate effect, the company announced today (16 February).
  • The third-largest insurance-linked securities (ILS) fund manager LGT increased its assets under management (AuM) by $300mn to reach $5.5bn in February, the company told sister publication Trading Risk last week. Normal 0
  • The start-up from Validus Re co-founder George Reeth announced last week highlights an increased focus on the opportunities in sourcing and delivering risk rather than bearing it.
  • Total return reinsurance start-up Aligned Re will generate a significant portion of its float from legacy reinsurance transactions, but will benefit only modestly from the favourable run-off of the underlying portfolios.
  • Total return reinsurance start-up Aligned Re would have delivered an annualised return on equity (RoE) of 14.7 percent from 2000 to 2015 solely from its investment portfolio if it had been in existence and at full scale, according to the investor presentation obtained by The Insurance Insider.
  • With Enstar and UBS O'Connor's Aligned Re vehicle poised to become the fifth launch in just two years, another total return reinsurance start-up is set to roll off the conveyor belt despite the model's failure to fully prove itself to date.
  • Total return reinsurance start-up Aligned Re has launched its formal fundraise, with an unprecedented level of backing from its distribution and asset management partners Enstar and UBS O'Connor, The Insurance Insider can reveal.
  • George Reeth has collaborated with XL Catlin to launch a managing general underwriter focused on providing insurance-linked securities (ILS) market support for small to mid-sized companies seeking property insurance cover
  • The Japanese big three insurers - MS&AD, Tokio Marine and Sompo - all suffered heavily in trading overnight (9 February) as macro factors drove stock markets sharply down.
  • Reinsurers are diverging in their approaches to third-party capital platforms, with a mix of expansion and cutbacks occurring across companies.
  • The $100mn MultiCat Mexico class C notes look to be in line for a $50mn payout as a result of Hurri-cane Patricia, which struck Mexico last October, sister publication Trading Risk reported last week
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