June 2016/1

Institutional investors would welcome new sources of insurance risk to help them build better portfolios, according to Todor Todorov, investment consultant, hedge funds research at Willis Towers Watson

There continued to be more buyers than sellers on the secondary cat bond market in June, which kept prices relatively firm

A downturn in industry loss warranty (ILW) pricing has limited cat bond lite issuance activity in 2016, with a couple of recent deals breaking the dearth of activity

The second quarter marked a return to significant spread softening on new cat bond issuances for the first time since early 2014, as investor demand continued to outweigh new supply arriving on the market

Swiss Re has around $395mn of retro support from its Sector Re sidecar after the vehicle completed its main fundraising before the mid-year renewals, Trading Risk understands

Allianz Risk Transfer lifted the target on its Blue Halo Re cat bond to $185mn from $150mn, as pricing on the high-risk transaction moved toward the upper end of forecasts, Trading Risk understands

Getting "closer to risk" is one of the talking points in the reinsurance market at the moment

The $200mn Gator Re cat bond is almost 70 percent of the way to reaching its $175mn trigger point, partway through its final annual risk period, sources told Trading Risk

Nephila Capital pared back the level of capacity it deployed in the Florida reinsurance market this year, helping to limit rate reductions after several years of significant declines

Floridian carrier United Insurance Holdings expanded its reinsurance limit by about 20 percent year-on-year to obtain $1.42bn of first-event cover at the 1 June renewals