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Everest Re reported a 17 percent year-on-year jump in gross written premium during the second quarter, which reached $1.6bn, as its reinsurance top line rose 14 percent with insurance business up 25 percent.
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All three layers of the Mexican government's latest cat bond have priced at the lowest end of previously reported guidance, as the deal closed at $360mn - making it the largest ILS deal to benefit the country's Fonden natural disaster fund to date.
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The Mexican government has increased the target size of its new multi-peril cat bond by $70mn to $360mn as the forecast premium on the deal has fallen below initial expectations, Trading Risk understands.
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Scor and PartnerRe have each let a reinsurance sidecar lapse in 2017 after deciding that they no longer needed retrocession cover in this format, Trading Risk understands
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The ILS market has well and truly put its foot on the accelerator this year - with cat bond volumes setting new records and ILS managers competing hard in Florida
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The cat bond market was firmly in the hands of sponsors in the second quarter, with volumes setting a record in a frenetic period that pushed ILS pricing to new lows
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Florida Citizens bought more collateralised reinsurance for the current hurricane season than it had in 2016, after lifting the size of its traditional programme by more than 50 percent.
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Reinsurance and retro buyers obtained further rate reductions at the 1 July renewals, although Australian catastrophe losses led to isolated price increases.
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Artex has issued its second cat bond lite of the year on the Bermuda Stock Exchange, raising a total of $8.31mn.
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Alternative reinsurance growth; ILS rankings; Cyber loss potential; Egon loss estimates rise; Hannover Re fronting expansion; PIC reinsures £1bn longevity risk...
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European ILS sponsors and arrangers need to weigh up a number of considerations as they consider alternative collateral arrangements, write Robert Cannon and Matt Feig at Cadwalader.
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Alternative reinsurance capital totalled $86bn for the first quarter of the year, an increase of 7 percent relative to the end of 2016, according to data from Aon Benfield.
