Hurricane

Federated National ceded $25.6mn of Hurricane Matthew losses to its reinsurers in the fourth quarter, but the $21.4mn of losses it retained from the event pushed the company to a $12.1mn net loss for the period

Lloyd's insurer Icat Syndicate 4242 is set to close its Buffalo Re cat bond at $164.5mn as pricing on the deal dropped as much as 10 percent below original targets, Trading Risk understands.

Lloyd's syndicate Icat 4242 has increased the target size of its Buffalo Re cat bond by 31.6 percent to $164.5mn, Trading Risk understands.

Alleghany's profits from its stake in Bermudian ILS manager Pillar and its reinsurance funds fell to $2.9mn in the fourth quarter, down from $8.4mn in the same period last year.

Universal Insurance Holdings posted a pre-tax profit of $22.7mn for the fourth quarter, which included a loss of $26.6mn due to Hurricane Matthew.

Lloyd's syndicate Icat 4242 has launched its first cat bond transaction with the $125mn Buffalo Re, Trading Risk understands

Floridian carrier United Insurance Holdings, the parent of UPC Insurance, took a $17.6mn loss for the quarter as catastrophe activity continued to put pressure on its results.

Omers backs Allied bid; Blue Capital gains; Catco losses; Pioneer fund; XL's New Ocean gain; Harrington fee boost; Mt Logan fee income drops...

Assured Risk Cover (ARC) is marketing a new parametric hurricane insurance cover to Floridian buyers

An update to RMS's medium-term hurricane model will result in 8-10 percent reductions to projected annual average losses from US hurricanes for the typical cat bond market risk level of 1-in-100- or 250-year return periods

The latest update to RMS's medium-term hurricane model will show a 16 percent drop in annual average losses for US storms

Munich Re took EUR600mn ($640mn) of major losses in the fourth quarter, including EUR232mn ($247mn) from Hurricane Matthew and EUR251mn ($268mn) as a result of the New Zealand earthquake.