Stocks

The Hanover has agreed to sell London market carrier Chaucer to China Re in a deal which values the insurer at $950mn.

Flood risk concerns could mean more drain on the public purse to pay for damages via the NFIP.

The French carrier has received final regulatory approval for its $15.3bn acquisition of XL Group.

A well-known market figure, Neville Weston will stand down from Bermudian ILS manager Aeolus in the next couple of months, according to sources.

This is believed to be the first ever listing of blockchain notes on a regulated exchange.

The start-up plans to put the assets to work in the January retro renewals.

The cat bond market has been the fastest-growing ILS segment in the past year, Aon said in its latest ILS report.

The reinsurer has created a new P&C partners unit encompassing its retro and third-party capital strategies as well as insurtech ventures, underwriting management and product development.

Covea put in an all-cash offer of EUR43 ($49.85) per share for the French reinsurer, however the offer was turned down.

Hurricane Lane, which hit Hawaii earlier this month, is set to be more of a flood event than a wind event for insurers, rating agency AM Best has said.

As the challenging operating market leads more and more reinsurers to raise third-party capital, it seems strategic benefits might be easier to come by than financial benefits, commentators have suggested.

California has suffered another record-breaking wildfire season but the impact on the ILS market is likely to be marginal, sources have said.