Collateralised reinsurance

The sidecar was established in 2017 to provide support for Hamilton Re’s reinsurance portfolio.

Stone Ridge’s Interval fund has shrunk due to catastrophe events and investor redemptions.

The changes in insurer appetite to participate in the Florida Hurricane Catastrophe Fund and new guidelines from ratings agency Demotech could create opportunities for the ILS market.

The ILS industry in Guernsey was consulted to clarify legal and reporting requirements to meet the Code Group’s standards.

The takeover was announced in October last year and all parties now anticipate closing the transaction “as soon as possible”.

After a consultation with shareholders, the board has decided to pursue “an orderly run-off”.

The past two years challenged the catastrophe (re)insurance market more than any period since the Hurricane Katrina era in 2004-2005 – but it is far from clear what the outcome will be this time around.

Renaissance Re issued $857mn new shares for the vehicle last year, as well as $457mn in the January 2019 renewals.

Allianz said it would assist Pimco’s new ILS business through originating collateralised reinsurance and other investments.

The new coverage provides Travelers with enhanced protection for its property business at what CFO Daniel Frey said was “an appropriate price”.

The Dodeka XX notes were listed on the Bermuda Stock Exchange yesterday.

Two transactions were issued on the Bermuda Stock Exchange.