Stocks

Hiscox Re and ILS reported a profit of £25.5mn ($35.8mn) in 2017, a drop of 83.6 percent on a year earlier, the company said on Monday.

Aspen will get quota share support from a separate cell of its Peregrine vehicle, after electing not to renew its Silverton Re sidecar at this year's renewals, according to a 10K filing.

Alleghany took a $1.7mn loss during the full year from its investment in Pillar Capital, as a fourth quarter profit of $1.2mn from the Bermudian ILS manager partly offset third quarter losses.

United Insurance Holdings (UPC) lined up a new panel of quota share providers in January, as the firm said it had already renewed some of its loss-hit reinsurance layers ahead of the 1 June renewal.

Universal Insurance Holdings reduced its estimated gross loss for Hurricane Irma to $447mn in the fourth quarter down from $452mn at the close of Q3.

UK-based insurer Brit has announced in its 2017 results that its new vehicle, Sussex Capital, was launched with $102.5mn of capital.

The abundance of ILS and traditional capital is reducing the likelihood of a sustained rate hardening in catastrophe-exposed US insurance business, Willis Towers Watson has said in its update on the US property market.

Brit increased its Versutus sidecar by almost 25 percent to $187mn of capital for 2018, the insurer announced.

Australian carrier IAG recouped A$120mn ($94mn) from reinsurers on its aggregate programme during the six months ended 31 December, helping to keep its catastrophe losses below budget.

Arch Capital has put its fourth quarter net catastrophe losses at just $0.8mn, as losses from the Californian wildfires were offset by reductions to its claims linked to third quarter hurricanes.

RenaissanceRe has raised $70mn from a third issuance of its Fibonacci Re private cat bond notes, a Bermuda Stock Exchange (BSX) update has revealed.

Securis and StarStone have agreed a partnership that will expand the ILS manager's US property insurance portfolio, Trading Risk has learned.