Hurricane

JLT Capital Markets has closed a new Market Re private cat bond in a deal that helped a Florida insurer to replace cover from the Florida Hurricane Cat Fund (FHCF).

LGT's Collateralised Reinsurance was the largest alternative market provider on the Florida Hurricane Catastrophe Fund (FHCF)'s 2015 reinsurance programme

Bruce Lucas, CEO of Heritage P&C, tells Trading Risk that the Florida (re)insurance market has reached a healthy equilibrium

Parametric launch at Guy Carpenter; TWIA expands reinsurance; Tropical Storm Risk decreases forecast; Alamo Re 2014 attachment resets; Texas floods could hit $1bn; JBA launches modelling platform; Marsh: primary market crowded; Pine Brook supports start-up

The US state-backed hurricane insurance pools followed a mixed strategy in the 2015 reinsurance renewals as two of the top three lifted their risk transfer by a third compared to 2014, while the other dropped its cover by almost 20 percent.

One debut sponsor entered the cat bond market last month as issuance slowed down ahead of the start of the hurricane season.

Florida-based insurer Universal Insurance Holdings (UIH) bought half of the first layers of its private reinsurance programme on a three-year basis as it restructured its programme for 2015.

Aon Benfield's Tropical Storm Risk has slightly revised down its June forecast for the 2015 Atlantic hurricane season compared to its April outlook.

Oppenheimer's Master Event-Linked Bond Fund returned 4.34 percent over the year to 30 March 2015, compared to 10.28 percent in the prior-year period.

Florida Citizens Property Insurance benefited from a significant drop in reinsurance rates for its commercial non-residential (CNR) book of business at the 1 June renewal.

The 2015 Atlantic hurricane season is likely to be below normal with up to two major hurricanes, according to the National Oceanic and Atmospheric Administration (NOAA)

The reinsurance market's next shock could come not from a hurricane but from the "internet of things", former Goldman Sachs partner Michael Millette told an audience at the annual Insider New York event earlier this month.