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January 2017/1

  • A Memphis-based advisory firm, Gerber Taylor, has registered a new ILS fund of funds, Securities and Exchange Commission (SEC) filings show.
  • Annualised sidecar returns dropped to the low teens towards the end of 2016, as the softening market and catastrophe losses took a toll on performance.
  • Casualty reinsurers operating in the US started to push back against historically broad soft-market terms at the January renewals, with most placements renewing flat, sister publication The Insurance Insider reported.
  • Alternative market reinsurance capital intakes slowed in 2016, but the sector's rate of growth still outpaced the traditional market, brokers estimated in their reports on the 1 January renewals.
  • Retrocession and US property catastrophe rates moved closer to flattening out at the 1 January renewals.
  • SunTrust Bank becomes ILS trustee; Arch backs Premia; Floridian M&A; Russian reinsurer; Longevity swaps; Omers and Allied; Aeolus acquisition; Brazil parametric deal; BHSI eyes Japan
  • The US Federal Emergency Management Agency (Fema) said it hoped its first $1.04bn flood reinsurance purchase would lay the cornerstone for a multi-year programme.
  • New research suggests that in periods of active Atlantic hurricane activity a "buffer zone" surrounds the southern US coastline that helps to curb landfalling storms.
  • JP Morgan has shut down its ILS trading desk after citing concerns over value in the sector, Trading Risk revealed late last month.
  • Returns from a group of cat bond funds tracked by Trading Risk almost doubled last year from their performance in 2015, as softening spreads bolstered values. Higher-risk deals over the past couple of years have also boosted returns available to investors.
  • An upcoming payout from the Gator Re cat bond is on track to make tornado losses more costly for ILS investors than the sector's hurricane claims to date.
  • Average cat bond spreads finished 2016 trailing 60 to 70 basis points below yields that were available at the same point in 2015, according to data from RMS.
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