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January 2012/1

  • Bermudian reinsurer Arch expects to take a $13.7mn-$15.7mn loss from its share in collateralised writer Aeolus's results from the second half of 2011.
  • The cat bond market missed a chance to grow in 2011 as it failed to compete sufficiently on pricing, Willis Capital Markets & Advisory (WCMA) argues in its latest quarterly update on the market.
  • RenaissanceRe has confirmed that it has launched a new sidecar Upsilon Re, which will target collateralised retrocession business.
  • Validus investment vehicle AlphaCat Re 2011 wrote $76.1mn of collateralised property reinsurance and retro premium in 2011, writing almost all of the limit available to the special purpose vehicle.
  • Insurance-specialist private equity investor Aquiline Capital Partners has bought out the existing shareholders of Bermuda-based catastrophe investment manager Juniperus Capital Ltd (JCL), Trading Risk can reveal.
  • European exposure and loss collator, Perils AG, has estimated an initial industry loss of EUR300mn for December's windstorm Joachim, which swept through France, Germany and Switzerland.
  • The California Earthquake Authority (CEA) has launched a sequel to its August debut cat bond, seeking $150mn from the latest Embarcadero Re transaction.
  • Swiss-based alternative investor Twelve Capital has expanded its partnership with Bank Sarasin to sell a new ILS fund
  • Major cat fund manager Clariden Leu has re-opened its flagship Cat Bond Fund to new capital inflows, seven months after closing its doors in May last year in the face of weak ILS issuance
  • The ILS market continues to grow its investor base, drawing in a wider, more geographically balanced pool of investors, Swiss Re says in its annual review of the market
  • Collateralised reinsurer Catco deployed $1.25bn of retrocession capacity in the 1 January renewals through its Master Fund, according to a stock exchange announcement
  • Leading ILS fund manager Nephila Capital won a $100mn mandate from an Oregon state pension fund, taking it near the $5bn assets under management mark