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September 2016/1

  • Homeowners' carrier United Insurance Holdings (UIH) and American Coastal have joined forces to create the third largest player in the Florida residential property market
  • The varied, international nature of second quarter catastrophe events has made reinsurer sidecars the most likely source of losses for the ILS market, as the vehicles help to keep the earnings hit for carriers to a manageable level.
  • Second quarter catastrophe losses had a patchy impact on reinsurers' fee income from managed capital.
  • Weather risk has come back into the ILS spotlight with the launch of a Market Re private cat bond that uses a parametric trigger to cover a warm European winter event.
  • AP3 shrinks ILS; ILS Advisers gain; Cat bond loss payments; Philippines cat scheme; Italian quake losses; Zurich longevity deal; CPPIB eyes Ascot; AP2 returns; Louisiana floods
  • US thunderstorms produced the highest catastrophe losses for insurers in the first half of 2016, according to Swiss Re's Sigma unit.
  • Reinsurance profits could drop below carriers' cost of capital as ongoing soft market conditions and stagnant investment yields affect results, according to rating agency Standard & Poor's (S&P).
  • The cat bond market will expand further beyond property catastrophe after taking on new perils in the past year, according to participants in sister title The Insurance Insider's "virtual roundtable" before the Monte Carlo Reinsurance Rendez-Vous.
  • Hudson Structured settles brand dispute; Future Fund expands ILS brief; Stone Ridge consolidates
  • Vario Partners has brought in a large Middle Eastern reinsurer as a minority shareholder as it prepares to launch its first fund to invest in whole-account insurance securities, the company told Trading Risk.
  • Gator Re prices have regained further ground as the bond approaches maturity without covered losses notably rising.
  • Cat bond yields continued to fall in late summer, as half of the hurricane season elapsed without a US storm threat.