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April 2013/1

  • ANV stake adds to OTPP's heavyweights; LGT opens Bermudian cells; Blue Capital in second round of fundraising
  • Property sums insured for European windstorm risk have increased by 1.9 percent year-on-year across the 11 markets covered by data company Perils
  • PartnerRe is the latest reinsurer to establish its own strategic sidecar vehicle with the launch of the $75mn Lorenz Re
  • Leadenhall Capital Partners has launched its first commingled fund solely focused on life insurance-linked investments, the Dublin-based Leadenhall Life Insurance Linked Investments Fund
  • ILS fund manager returns have begun 2013 on a positive trajectory after improving on fourth quarter increases
  • Tokio Millennium Re recouped $20.5mn from industry loss warranties (ILWs) traded as livecat contracts during Superstorm Sandy, the company disclosed in its 2012 annual report
  • Strong demand in the secondary cat bond market is resulting in "pre-sell" bids being placed on new notes above par value before the deals have even closed, according to sources
  • The cat bond market has softened more quickly in 2013 than during the last soft market just before the 2011 Tohoku quake, according to a new report from Lane Financial
  • The 1 June renewal of the Texas Windstorm Insurance Association (TWIA)'s $850mn cat programme remains uncertain, with the very existence of the residual insurer under considerable threat.
  • Rates on Florida business are expected to soften at the 1 June renewal despite significant new demand for limit in the market.
  • Cat bond issuance has picked up pace to boost first quarter issuance to $1.35bn, just behind last year's record-breaking $1.5bn
  • Reinsurance programme restructures from two very different buyers in the lead-up to the key mid-year wind renewal have provided early evidence of an expected increase in participation from alternative providers in the traditional open market for US cat reinsurance.