Bermuda

The deal points to a significant price correction in the cat bond market since 2018, with projected spreads up more than 20 percent when compared with past deals.

Andrew Holderness was previously head of global corporate insurance and worked at the law firm for more than two decades.

The firm also added former Aon brokers Robert Johnston and Peter Komposch to the Bermuda office amid the reshuffle.

LGT ILS Partners is now transacting 70 percent of its reinsurance book on a rated basis through its A rated Lumen Re platform, partner and portfolio manager Michael Stahel has confirmed.

Panellists at Trading Risk’s conference in New York said they were adopting a wait-and-see approach to Lloyd’s Blueprint One proposals intended to make it easier for ILS managers to participate in the market.

Wildfire recoveries benefitted DaVinci investors and RenRe's retro partners in Q3.

Sidecar sponsor RenaissanceRe also posted a 40 percent uplift in Q3 fee income.

The former Aon Securities executive is the first big hire for Credit Suisse ILS in the US.

The Reinsurance Opportunities Fund also repurchased $43.4mn of shares in September.

Cerulean Re has now transacted deals totalling $167.9mn this year.

The storm is expected to track approximately 100 miles north of the island with hurricane conditions expected in Bermuda on Wednesday night and Thursday morning, the NHC said.

Markel and Pimco updated the market on their ILS plans.