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The maturity date for the remainder of American Strategic's Gator Re cat bond has been extended by one month, according to the Bermuda Stock Exchange.
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The cat bond market "[floored] the throttle" in the first half of 2017 but record new issuance was marked by the absence of large global insurers, Swiss Re Capital Markets pointed out in its latest ILS market update.
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Tropical Storm Franklin battered tourist centres on Mexico's Caribbean coastline on Monday but remained out of range to trigger the World Bank-sponsored MultiCat Mexico cat bond upon its first landfall in the country.
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Securis Investment Partners has relaunched its Securis Life Fund, receiving $188mn in new subscriptions in two months, the manager told Trading Risk.
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The first named storm to threaten Mexico since the closure of the latest MultiCat Mexico cat bond is now heading towards the Yucatan peninsula.
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The World Bank's International Bank for Reconstruction and Development (IBRD) said its latest $360mn cat bond issued for the benefit of Mexican's Fonden natural disaster fund marked another step in the evolution of the relationship between Mexico and the World Bank in catastrophe risk management.
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Secondary trading in the ILS market rose six percent year-on-year during a bumper second quarter, according to Aon Securities' Q2 2017 ILS update.
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Zurich-based ILS manager Solidum said it has completed what it believes to be the first ILS securitisation to be settled via a private blockchain.
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PartnerRe reported a second quarter operating profit of $97mn following a $66mn loss in Q2 last year, citing lower cat losses and favourable reserve development as the drivers of improvement.
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Validus asset manager AlphaCat posted $3.1bn of assets under management at 1 July, up from $2.9bn at the end of the first quarter and $2.5bn a year earlier
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A record-breaking $6.3bn quarter for non-life cat bond volumes may represent a tipping point for the ILS market, Willis Towers Watson Securities said in its latest quarterly market report.
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RenaissanceRe reported $19.8mn of net income from fees and profit commissions on property business written for third-party investors during the second quarter.
