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November 2015/1

  • Proxy firms Institutional Shareholder Services (ISS) and Glass Lewis suggested that Towers Watson investors should vote against the firm's proposed takeover by Willis.
  • Last month Trading Risk revealed that Credit Suisse is hoping to tap into the ILS market to help insure its operational risks, such as a possible cyber attack or a rogue trader incident.
  • The task force established by the London Market Group to develop the UK as a centre for ILS transactions is facing competition from other "onshore" jurisdictions seeking to rival the established "offshore" ILS locations such as Bermuda and Guernsey.
  • Trying to compare returns available from primary insurance business to the reinsurance market is like comparing apples to oranges.
  • Florida Citizens Property Insurance is preparing for a major revamp of its reinsurance buying strategy in 2017 following the success of efforts to depopulate its portfolio and reduce the state-backed carrier's exposure.
  • Collateralised reinsurance premiums assumed from Florida insurers ballooned from $18mn to $118mn between 2010 and 2014, according to Aon Securities head of analytics Sean McCarty.
  • Investors waiting for a catastrophe event to improve rates before deploying capital into ILS may be failing to understand the fundamental value of the asset class, according to speakers at the Trading Risk New York Rendez-Vous.
  • The creativity of the ILS market is increasing its value to reinsurance buyers and outweighing its mono-line focus on catastrophe risk as cedants increasingly push counterparties to write multiple lines of business.
  • Entering the primary insurance space is the logical next step for ILS managers but there are structural challenges to this expansion, according to AlphaCat portfolio manager Paschal Brooks.
  • S&P downgrades MultiCat; ANV explores sale; Australia looks at ILS terror cover; US floods top $400mn; Horseshoe platform; Stone Ridge establishes fund; Besso to sell Optex; Pillar profits
  • Disputes over winter storm claims from northeastern US regional insurers may drive additional demand for aggregate cover in 2016, sister publication The Insurance Insider reported.
  • Gibraltar hopes to offer a platform for listed exchange-traded instruments (ETIs) by late 2015 that could open up a new route for ILS fund managers to market in Europe.