Hurricane

Argo Group has set up its first sidecar for the 2013 accident year

Dexion Capital's closed-ended ILS fund DCG Iris has issued 11.025 million in additional shares at £1 per share which will take the fund to a total size of £51mn if successfully listed.

RMS Paradex puts Sandy at $17.8bn; Sandy loss disclosures; Listed funds draw in institutions; ILS attracts Magnetar exec

Catastrophe models were ready to handle the quirks of Hurricane Sandy, RMS said during a presentation hosted for ILS investors.

Hurricane Sandy's unique profile will test how well the PCS industry loss compilation service covers certain claim categories, as buyers of industry loss-based covers wait to see where the event will settle.

Prices on US hurricane cat bonds have regained value on the secondary cat bond market following the post-Sandy price falls last month.

The latest Residential Re deal from USAA continued the trend for spread tightening in what was the first hurricane bond to be issued after Superstorm Sandy.

Spreads on hurricane-exposed bonds have fallen by an average of 20 percent since the first half of 2012 to bring their risk pricing much closer to traditional cat reinsurance

Catastrophe models were ready to handle the quirks of Hurricane Sandy, RMS said during a presentation hosted for ILS investors yesterday (4 December)

US insurer Travelers expects to take $650mn of post-tax net losses relating to Hurricane Sandy. The firm estimated its gross pre-tax loss before reinsurance recoveries at $1.135bn.

Credit Suisse is carving out a side pocket of reserves for Sandy claims worth 5 percent of the net asset value of the £40mn DCG Iris fund, according to a statement from the London-listed fund.

Allstate expects to take $1.075bn of net losses and pass on $200mn of claims to reinsurers from Hurricane Sandy, with its claims burden led by auto losses.