AuM data

Aspen posted a 2.7 percent increase in reinsurance gross written premiums (GWP) during the first quarter to $484.8mn

Endurance chief financial officer Michael McGuire said that the company is likely to focus on ceding quota share business to Blue Capital, the third-party funds platform owned by Montpelier Re, after closing its $1.83bn acquisition of the reinsurer.

AQR's decision to shut its Bermudian reinsurance platform highlights the increasing scale needed to to compete in the ILS funds market, however commentators have said this will not necessarily spur consolidation in the sector.

Schroders has set up a new cat bond fund that will be able to invest up to 25 percent of its assets in private bonds and cat bond lites.

Pioneer Investment Management has published its first quarterly report for its new ILS Interval fund, disclosing sums committed to a number of reinsurance sidecars including Munich Re's Eden Re II and Brit's new Versutus Re vehicle.

Endurance CEO John Charman said the company's proposed $1.83bn acquisition of Montpelier Re would provide the company with a "natural introduction" to the business of managing capital for third-party investors.

AQR Capital Management is winding down its $445mn Bermuda reinsurance platform, as it said that it faced an increasingly difficult task to scale up the business and maintain returns in the current market.

Elementum Advisors has recruited Adam Maloney from JPMorgan Asset Management to fill the role of director of marketing and investor relations, the ILS fund manager announced.

Swedish state pension fund AP2 scaled up its ILS investments in 2014 and awarded a new mandate to Elementum Advisors, according to its latest annual report.

Top-line expansion for short-tail specialists slowed in 2014 as softening market conditions dampened growth opportunities, particularly in property cat.

The value of annual cat bond trading on the secondary market has more than doubled in the past four years, from $1.7bn in 2010 to $4.2bn last year, fund manager Elementum Advisors estimated.

Profits at Hiscox's reinsurance division dropped 18 percent in 2014 to £105.6mn, as the company's net earned reinsurance premium fell by 28 percent to £193mn.