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February 2016/1

  • A couple of cat specialists said they bought more retro in the January renewals, as Validus said it had obtained its most comprehensive programme ever.
  • Hannover Re and Everest Re both added about $100mn of new retro support to their sidecars in January 2016.
  • AlphaCat and Mt Logan Re significantly expanded their premium base throughout 2015, as their parent reinsurers continued to build out their asset management platforms.
  • Kaith cat bond lites extended; PRA expectations on longevity; Endurance weather deal; Cat frequency spikes; January weather losses; Xmas floods estimated at $767mn; Cycles remain: Hannover Re CEO; Tianjin losses
  • Allied World has dropped its capital participation in funds managed by Aeolus to $200mn for 2016, down from $350mn last year, the carrier's CFO Tom Bradley said on an earnings call.
  • Two insurance companies recorded losses in their weather derivative books due to mild winter conditions in Europe, according to comments made on fourth quarter result conference calls.
  • XL Catlin is hoping to raise $600mn for its reinsurance joint venture with alternative fund manager Oaktree, in a deal that parallels Ace's launch of a captive reinsurer with BlackRock.
  • Catco returns 12%; Blue Capital reports results
  • The Australian and New Zealand sovereign wealth funds each provided updates on their combined $300mn allocation to the ILS sector this month.
  • ILS fund manager LGT increased its assets under management (AuM) by $300mn to $5.5bn in February, the company told Trading Risk.
  • The Swiss Re Cat Bond Price Return index stabilised in early February after posting incremental softening throughout late 2015.
  • ILS investors traded a total of at least $20mn MultiCat Mexico 2012 class C notes at distressed levels in the three months from late October.
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