November 2015/1

Mt Logan takes $6mn cat loss; Endurance cuts cat; Kinesis profits rise

The two largest reinsurer-backed ILS managers increased their catastrophe premium base in the third quarter.

Markel has subscribed for 25 million voting rights in the Catco Reinsurance Opportunities Fund, equivalent to a 6.91 percent share.

The Indiana Public Retirement System has allocated $50mn mandates to both Nephila Capital and Aeolus Capital Management, a spokesperson for the fund confirmed.

Rates for US all natural perils (ANP) industry loss warranties (ILWs) have fallen by an average 12 percent from their mid-year peak, according to data from broker BMS.

Cat bond prices trailed off by 0.62 percent in the final two weeks of October, as the market faced a potential loss from Mexico's Hurricane Patricia.

Negative collateral yields on euro-denominated cat bonds, unthinkable before Europe's debt crisis, have been flagged as a possible issue for the ILS market.

French electricity firm EDF is investigating a renewal of its EUR150mn Pylon II cat bond, Trading Risk understands.

Credit Suisse Asset Management (CSAM) will seek to bring new investors into Humboldt Re in the future but its growth will depend on market conditions, the firm's head of ILS Niklaus Hilti told Trading Risk.

In the process of watching New Zealand's All Blacks powering through the Rugby World Cup over the past month, I've heard a few explanations of why they're the strongest team on the field these days.

Credit Suisse Asset Management (CSAM) has launched a new quota share fund that it expects will have $400mn to deploy in the January renewals.

Fund manager Securis looks set to enter the Lloyd's market via a special purpose syndicate (SPS) sponsored by listed Lloyd's insurer Novae, Trading Risk can reveal.