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Trading Risk May 2017

  • Nephila's new facility with Marsh will help to kick-start growth of the fund manager's US insurance book, with the deal much more significant in size than its previous arrangement with Amwins
  • Gaming company Lottoland has launched a business that takes on risk from its peers and cedes it on in turn to ILS investors.
  • Florida Citizens has increased its traditional reinsurance limit by $370mn this year as it pared back its cat bond coverage, sister publication The Insurance Insider revealed.
  • US commercial P&C rates continued to decrease in Q1 although the pace of softening slowed, according to the Council of Insurance Agents and Brokers (CIAB)
  • AP2's ILS pot shrinks; ILS funds post 0.23% March return; MGA Ventus partners with ILS firms
  • A table of ILS fund returns for the first quarter of 2017 printed in last month's edition of Trading Risk displayed incorrect information for three Axa funds.
  • Collateralised reinsurers and ILS investors received $612mn in ceded premiums from the top 10 Florida insurers in 2016, a drop of 6 percent from $654mn the previous year, according to data collected by Trading Risk
  • Hudson Structured Capital Management and Twelve Capital were the lead investors in a $45.5mn debt issuance from legacy carrier Catalina General Insurance.
  • The Gator Re cat bond has been extended by a further month, with the full $35mn of collateral held back after its initial maturity date now expected to be repaid to its sponsor American Strategic Insurance.
  • Prices on aggregate storm-exposed cat bonds are largely holding up after an active start to the storm season, as sources reported increased demand for multi-peril and earthquake diversifiers.
  • Hannover Re Q1; UPC hit by costs; FedNat profits fall 67%; Securis SPA; London innovation; Munich Re results...
  • Chubb is the cedant on the $173mn Resilience Re 1741A private cat bond that was issued in April, according to sources.
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