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For-sale insurer reports a decrease in reinsurance net written premiums as it makes changes to how it cedes risk to Aspen Capital Markets.
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A shift in reinsurance business mix and 2017 loss creep drove down first quarter underwriting results for XL.
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ILS funds averaged a loss of 0.24 percent in March as 2017 events deteriorated. -
Travelers has returned to the ILS market to renew cover.
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Validus posted a $1.1mn year-on-year increase in Q1 earnings from the now $3.7bn platform.
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The new Residential Re cat bond for military insurer USAA has expanded by more than 70 percent over the course of marketing, settling at $300mn from an initial target of $175mn, Trading Risk understands.
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The Resilience Re platform run by Willis Towers Watson Securities has issued $150mn of series 1841A notes on the Bermuda Stock Exchange (BSX), bringing the platform’s total issuance for 2018 up to $262.6mn.
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USAA has expanded the target size of its new Residential Re cat bond by $50mn-$150mn in one of the first renewals of a loss-affected cat bond.
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TransRe has unveiled its first cat bond, the $200mn Bowline Re, according to sources.
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Louisiana Citizens Property Insurance Corporation’s $100mn Pelican IV Re 2018-1 cat bond has priced at the upper range of its revised targets, as investors rebuffed attempts to set a new pricing low for a US wind-exposed cat bond, Trading Risk understands.
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Pricing for the Pelican IV Re 2018-1 cat bond has decreased 15 percent, despite the new inclusion of thunderstorm risk.
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The London-listed Blue Capital Alternative Income Fund reported a 2.62 percent drop in net asset value (NAV) for the month of March, due to spiralling Hurricane Irma losses.
