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ILS managers seek private deals amid competition

17 May 2013

As ILS spreads fall, some ILS managers are trying to try to lock in private deals to protect themselves from competition by "stepping in front of" syndications, Willis Capital Markets & Advisory (WCMA) wrote in a review of first quarter results from the ILS market… Read more

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Second Oak Leaf Re renewal comes to market

17 May 2013

A new Florida wind deal has come to market with the second renewal of the Oak Leaf Re private cat bond, Trading Risk understands… Read more

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Blue Capital deploys 70% of IPO proceeds in Q1

17 May 2013

Montpelier Re's Blue Capital Global Reinsurance Fund had invested $66.9mn by 1 April, equivalent to 68 percent of the net proceeds of its $100mn December IPO… Read more

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Louisiana tops up after Pelican buy

17 May 2013

The Louisiana Citizens Property Insurance top-up cover points to a growing demand for reinsurance as ILS pricing slips… Read more

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First Florida premium indicators down 5-15%

17 May 2013

The Florida Citizens renewal created tensions in the market as other Floridian insurers initially pushed for similar rate reductions, according to Guy Carpenter managing director Lara Mowery… Read more

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Reinsurers divided on impact of tough Florida competition

17 May 2013

Florida is expected to remain an attractive market for reinsurers despite fears of a particularly competitive 1 June renewal, although firms are divided on the impact it will have on rates… Read more

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Sidecars set off at different speeds

17 May 2013

Bermudian reinsurers Validus and Montpelier Re continued to lift their managed property catastrophe premiums in the first quarter but RenaissanceRe and Lancashire trimmed back their top lines as momentum in the property cat market slows in advance of stiff mid-year competition… Read more

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Florida risk pool dropped as state focuses on Citizens reform

17 May 2013

The Florida legislature has dropped proposals for a risk-pooling facility in the final version of a reform bill that includes measures to continue shrinking exposures at state-backed insurer Citizens… Read more

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Allianz and Nephila caught up in depop suit

17 May 2013

The Florida Department of Financial Services is suing Allianz and its Bermudian subsidiary Allianz Risk Transfer (ART) for more than $20mn after alleging that the insurance group conspired to "loot" failed Floridian insurer Magnolia Insurance… Read more

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£400mn Bentley longevity swap could drive smaller deals

17 May 2013

Deutsche Bank subsidiary Abbey Life's agreement to cover pension obligations worth £400mn for UK luxury motor firm Bentley Motors could be a catalyst for smaller longevity risk transfer deals, Aon Hewitt partner Matt Wilmington told Trading Risk… Read more

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