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October 2015/1

  • John Seo, founder and managing principal of ILS fund manager Fermat Capital Management, has been appointed to serve on a US advisory committee on terrorism risk
  • Early renewals down; Floridians expand; Axa wins mandate; Armored Wolf shuts; RMS buys HWind; Vario partners with GC; AIR cyber model; Berkshire pulls facilities
  • Kiskadee Investment Managers has made two senior hires in Bermuda, recruiting a chief compliance officer and portfolio manager.
  • Swiss Re has brought its capital markets staff into a new broader structured solutions division, appointing Philipp Rüede to head up the team's property and casualty section in a newly created role.
  • Proposed changes to AM Best's method of calculating capital adequacy for (re)insurers could boost demand for peak cat cover, particularly from regional US carriers.
  • Australian asset manager MLC and the Maryland State Retirement and Pension System both announced new ILS mandates this month.
  • Catco is preparing to expand its listed retro fund, the Catco Reinsurance Opportunities Fund, by up to $750mn ahead of its integration by Markel.
  • Reinsurers increased their share of the catastrophe bond market from 6 percent to 10 percent in the year to 30 June 2015, according to Aon Benfield's annual ILS report.
  • Seven cat bond funds tracked by Trading Risk have delivered average returns of less than 2 percent for the first nine months of 2015, putting them below their performance at the same mark last year.
  • The Swiss Re Cat Bond Price Return Index has almost reached the values recorded at the start of 2015 after posting a 1.7 percent upswing since mid-July.
  • How will climate change impact ILS?
  • Amtrak's captive insurer expanded its storm surge cat bond PennUnion Re from an initial target size of $200mn to $275mn after pricing settled at the lower end of initial guidance this month.
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