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February 2017/1

  • Sompo Japan Nipponkoa Insurance is seeking to raise $270mn of cover against typhoon losses from its new Aozora Re 2017-1 cat bond, according to Trading Risk sources.
  • Willis Capital Markets & Advisory (WCMA)'s Resilience Re platform has completed its second deal of the year with a $63mn club cat bond issuance, according to Bermuda Stock Exchange announcements.
  • Cincinnati Insurance replaced its $100mn Skyline Re cat bond with a larger collateralised reinsurance structure during the January renewals, said the carrier's CEO Steve Johnston.
  • Reinsurance lawyer Michael Halsband has been elected a partner of Drinker Biddle & Reath.
  • Hannover Re was among the reinsurers to top up on retro through expanded sidecar placements in the January renewals
  • Omers backs Allied bid; Blue Capital gains; Catco losses; Pioneer fund; XL's New Ocean gain; Harrington fee boost; Mt Logan fee income drops...
  • Private cat bond placements have become increasingly common in recent years, but the popularity of these somewhat opaque transactions has been coupled with concerns over their impact on the market's liquidity.
  • Assured Risk Cover (ARC) is marketing a new parametric hurricane insurance cover to Floridian buyers
  • Some UK pension funds are delaying making decisions on longevity swaps because of a recent increase in pensioner mortality rates, sources have told Trading Risk
  • PGGM ups ILS investment; IBI launch; 2016 returns lag...
  • Legacy insurer Darag has started work on a second deal through its cell platform as it looks to bring alternative capital to the run-off market, after completing its first such transaction last year
  • Cat bond prices in the secondary market edged upwards early in February, as the market waited for the New Year's issuance to kick-start
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