September 2016/1

Tropical storm Hermine was expected to cross the Florida coast on 2 September as a Category 1 hurricane as Trading Risk went to press. It is the first storm to threaten the state since 2005.

An $8.9mn cat bond lite completed in late August on Artex's issuance platform has taken total cat bond lite volumes for the year to $203mn, according to Trading Risk records.

Allianz Risk Transfer's latest Market Re private cat bond has fallen behind schedule as the company looks to raise weather reinsurance from the ILS market for the first time since 1999, Trading Risk understands.

Axa Liabilities Managers is planning to launch a second series of its legacy fund after fully deploying its first such vehicle, sources told Trading Risk.

The grand Monte Carlo casino is one of a number of entertainment options open to the horde of reinsurance executives about to descend upon Monaco for the annual Rendez-Vous.

A significant chunk of the outstanding cat bond market will mature ahead of the next hurricane season, which could put further pressure on spreads after the sector shrank by $2bn in the first half of 2016.

Twelve Capital is looking to bring in new backing as one of its original stakeholders wants to find an exit, Trading Risk understands.

Samir Shah, the former head of capital markets at AIG, has joined start-up firm Ledger Investing.

Former Montpelier Re president Chris Schaper has been appointed CEO of Schinnerer Group, a managing general agent (MGA) business that is part of Marsh.

Hermine made landfall as a category one hurricane in northwest Florida early Friday, becoming the first hurricane to hit the state in 11 years, but data shows that the insurance industry's exposure in the landfall region is relatively low.