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November 2016/1

  • Guernsey-domiciled rated reinsurance company Humboldt Re is on track to write gross written premium (GWP) of approximately CHF156mn ($160.26mn) for 2016, above its original top line target, according to AM Best
  • Head of ILS analytics at Twelve Capital Jan Kleinn has left the firm after two years, according to market sources, with another senior analytics executive Markus Stricker also placed on gardening leave.
  • Georgia hit with $90mn+ Matthew loss; Q3 cats impact United Insurance; Top Layer forex loss hits RenRe; RenRe puts Matthew loss at $75mn; Insured Canterbury losses reach $13.6bn; Q3 income dips at Blue Capital
  • The Turkish Catastrophe Insurance Pool (TCIP) renewed its EUR2.4bn ($2.6bn) reinsurance programme with rate reductions of just over 10 percent on a risk-adjusted basis, our sister title The Insurance Insider revealed.
  • Newly approved Lloyd's syndicate Blenheim confirmed that Nephila Holdings is among its capital backers, as it said that further former Cathedral staff would be joining the platform.
  • The volume of livecat trading of industry loss warranties (ILWs) prompted by Hurricane Matthew may have reached up to $150mn-$200mn, according to sources contacted by Trading Risk.
  • Despite initial fears that Hurricane Matthew could take a significant toll on the Florida (re)insurance market, a shift in the storm's track as it approached the US coastline in early October has limited forecast industry loss levels to the low single-digit billions.
  • Future Fund prepares for reinsurance scale; Leadenhall targets US investors; PSERS returns
  • Third quarter returns from a group of ILS funds tracked by Trading Risk were stable year-on-year.
  • Blue Capital Management said that it does not anticipate any management changes following the acquisition of its parent company Endurance by Sompo Holdings, the second ownership change for the firm in as many years after Endurance bought Montpelier Re in 2015.
  • Indicative reinsurer sidecar returns for 2016 have dropped into the single-digit range, highlighting the impact of catastrophe losses recorded earlier this year
  • XL-owned ILS manager New Ocean Capital Management has said its new backer Mitsui & Co would help it broaden its relationships with Asian investors.