Brokers

The ILS unit now reports to Willis Re deputy chairman Mark Hvidsten.

Guy Carpenter has promoted John Fletcher, the head of its retrocessional practice in Bermuda, to take over as chairman of the office.

Peter Stubbings has resigned from his role as Guy Carpenter Bermuda CEO and is set to join the retro team at Aon Benfield, sister publication The Insurance Insider reported.

Aon Benfield's estimate of insured losses from hurricanes Harvey, Irma and Maria (HIM) has come in at $80bn, below the $92bn-$93bn forecasts from Munich Re and Swiss Re released several weeks ago

JLT Re has hired Aon's former Asia Pacific chief operating officer Jeremy Fox as its new CEO in the region, the company announced today.

A smooth reloading of ILS capital and a glut of capacity contributed to catastrophe reinsurance rates rising by less than reinsurers had pushed for following last year's losses, brokers said in early post-renewals reports

Nephila Capital's equity investment in new managing general agency (MGA) Volante Global will not see its ILS funds taking on any underwriting risk sourced by the start-up, but the catastrophe specialist has not ruled this out in the future

Cat bond volumes reached $11.1bn in 2017, according to Trading Risk records, as new sponsors Validus Re and Covea wrapped up fourth quarter deals in a record year for issuance

ILS broker-dealers are expecting another $10bn issuance year for the cat bond market, as (re)insurance buyers seek to manage post-loss pricing adjustments

Allianz Risk Transfer (ART) has closed a second private cat bond covering weather at $14.5mn

Australia, the Netherlands and Canada have been tipped as countries where longevity swaps are likely to take off in future due to improved data and regulatory conditions, market participants have said

Canadian institutional investors strengthened their ties with the reinsurance sector in Q4, with CPPIB funding a Bermuda-based reinsurance platform for Ascot and CDPQ investing $400mn in Hyperion