Stocks

The reinsurer recorded net income of $1.9mn, helped by a reduction in losses and loss adjustment expenses.

The firm has moved to defend its plans against a rival strategy supported by a small group of investors.

Some sources have called for more transparency on secondary trades, though others note the buy-and-hold nature of the market limits trading appetite.

The cat bond fund posted returns of around 10.75% for the first six months of Stone Ridge’s financial year.

The Australian carrier has also renewed a five-year whole-account quota share with Hannover Re.

The CEO received $3.9mn in shares alongside his salary and bonus.

The aim was to provide proof of concept for the securitised tokens.

Chris Parish was previously portfolio management and funds team leader at Nephila Capital.

The programme was "oversubscribed on all dimensions”, the company said.

The broker has published research identifying transformative trends in the insurance industry.

The European Commission suggested that its review should include looking at the risks for retail investors of access to instruments including cat bonds and other niche alternatives.

The new SPA will write cyber reinsurance initially and could progress to writing insurance.