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March 2013/1

  • Investors in the $67.5mn Class G tranche of Nelson Re notes will be repaid in full after Glacier Re withdrew its arbitration case to give a smooth conclusion to a rocky four years for investors
  • Florida's legislature is considering measures to help smaller private insurers transfer cat risk to the capital markets after last year's successful $750mn Everglades Re cat bond debut by the state-backed Citizens.
  • Scor has entered into a value of in-force (VIF) monetisation transaction on a traditional mortality portfolio that belongs to Spanish insurer BBVA Seguros
  • Robust investor demand put pressure on rates as Nationwide Mutual closed its third cat bond Caelus Re III this month
  • RMS is set to moderate the view of hurricane risk from that contained in the Version 11 edition of its model when the new Version 13 is released this July.
  • The $750mn Everglades Re cat bond provided a 0.91 percent uplift to returns for the Swiss Re Global Index in 2012, according to a recent report from Swiss Re Capital Markets.
  • Berkshire Hathaway has agreed to underwrite a 7.5 percent share of Aon's $2.5bn book of Lloyd's business as part of reinsurance head Ajit Jain's response to changes in the market's pricing cycles
  • Longer-tail casualty business could "superficially" fit the risk appetite of pension funds better than property catastrophe reinsurance, Keefe, Bruyette & Woods (KBW) analyst Meyer Shields argued in a recent note on the industry.
  • The ILS market's track record does not yet reflect the true "tail risk" nature of the asset class, research firm Conning warned in a new report on the market.
  • Simon Fascione is likely to re-emerge at Bermudian fund manager Aeolus after his surprise exit from Lancashire, Trading Risk has learned
  • When you think about some of the deals that Berkshire Hathaway has struck in Australasia over the past couple of years it makes you wonder why so much attention is paid to the impact of alternative market capacity on the pricing cycle
  • Pricing on Japanese industry loss warranties (ILWs) has softened by about 25 percent since last year as the reinsurance market prepares for a static 1 April renewal season, sources said