May 2014/1

The Everglades Re renewal from Florida Citizens Property Insurance offered one of the starkest examples of the swingeing rate reductions that have occurred in the Sunshine State over the past two years

A number of specialist managers have been investigating signing up for leveraging facilities as ILS spreads fall to single-digit yields, with two US banks willing to offer such arrangements, sources said.

MultiCat Mexico rating unshaken by quakes; JLT and Horseshoe launch bond platform

Average ILS premiums across all cat bonds issued in the past 12 months have risen slightly in the past month, reflecting the impact of the new $1.5bn Everglades Re transaction.

Lorenz investors earn 25% in first year; Lancashire property premiums drop 11%; Axis offers agriculture business to third-party capital

The $1.5bn Everglades Re issuance has helped soak up investor demand for Florida hurricane risk and put pressure on secondary market pricing for such bonds, Trading Risk understands.

The two largest reinsurer-backed fund managers reported significant reductions to their gross premium base in the first quarter, reflecting the impact of falling catastrophe rates

The World Bank is considering expanding its disaster risk management services for developing countries by issuing cat bonds, in a move that could help make the ILS market more accessible for the bank's member countries.

The response to Allstate's Sanders Re cat bond had some investors hoping this month that ILS spreads may finally have found a floor, as it became one of the first deals this year to price at the upper range of guidance.

London-headquartered private equity fund CVC Capital is backing Endurance's $3.2bn hostile bid for Aspen

Schroders' ILS funds under management have grown rapidly since the UK-listed asset manager took a 30 percent partnership stake in Switzerland-based ILS specialist Secquaero Advisors last June.

Pine River Capital Management has parted ways with former Endurance executives Bill Jewett and Ken LeStrange and now plans to establish a sidecar-style reinsurer in the mould of Watford Re, sister publication The Insurance Insider has revealed