Trading Risk June 2017

Swiss Re has bolstered its retro support from the Sector Re sidecar by around $100mn in the past year to take the vehicle's total capacity to $492mn, Trading Risk understands.

The final version of the Insurance Open Protocol has cut back the frequency of reporting it requires from ILS managers in response to feedback received during the consultation period.

A significant drop in social and healthcare spending in the UK is now thought to be the cause of a slowdown in mortality improvement, which has led the longevity swap market to stall.

Allstate reduced its traditional limit when it renewed its $4.42bn nationwide catastrophe reinsurance treaty at the mid-year renewals, after having cover up to $4.55bn last year, sister publication The Insurance Insider reported.

Larger residual insurers were among cedants that prospered in the June renewals from competition for US property catastrophe reinsurance business.

The main factors in this year's "double-dip" Florida reinsurance renewal were abundant supply, reduced demand from several key buyers and uncertainty over model changes.

Forecasters are predicting an average to above-average 2017 Atlantic hurricane season, as debate continues over whether a longer-term shift to a phase of reduced activity is underway.

Four recent private and cat bond lite deals cleared during the mid-year renewals.

Newly issued cat bonds, including the latest Alamo Re and Citrus Re 2017-1, have already traded above par on the secondary market, in a sign of strong ILS demand.

Standards set by the Hedge Fund Standards Board (HFSB) can provide a pattern for ILS managers to mitigate potential conflicts of interest, Hiscox Re ILS COO Richard Lowther told Trading Risk.

Switzerland-based asset manager Plenum has discontinued its partnership with Sequant after marketing a new non-catastrophe ILS fund with the Bermuda asset manager last year, Trading Risk can report.

LGT ILS funds; Wilton Re buys Aegon US run-off businesses; Cat bond funds reopen