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A table of ILS fund returns for the first quarter of 2017 printed in last month's edition of Trading Risk displayed incorrect information for three Axa funds.
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Collateralised reinsurers and ILS investors received $612mn in ceded premiums from the top 10 Florida insurers in 2016, a drop of 6 percent from $654mn the previous year, according to data collected by Trading Risk
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The Gator Re cat bond has been extended by a further month, with the full $35mn of collateral held back after its initial maturity date now expected to be repaid to its sponsor American Strategic Insurance.
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Prices on aggregate storm-exposed cat bonds are largely holding up after an active start to the storm season, as sources reported increased demand for multi-peril and earthquake diversifiers.
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Hannover Re Q1; UPC hit by costs; FedNat profits fall 67%; Securis SPA; London innovation; Munich Re results...
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Chubb is the cedant on the $173mn Resilience Re 1741A private cat bond that was issued in April, according to sources.
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There has already been more cat bond reinsurance cover raised in the second quarter to date than in the full first quarter after an exceptionally busy April.
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As 1 June Florida renewal negotiations come to a head in the next fortnight, there are a number of dominant themes influencing discussions.
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Back in 2013-2014 when the cat bond market was last booming the way it is right now, the boisterous volumes of issuance prompted a bit of philosophising over whether ILS rates had "decoupled" from the traditional market.
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Martin Reith's Neon is working on establishing an ILS fund that would see the revamped Lloyd's business bring in third party capital to support its nascent property catastrophe reinsurance book, Trading Risk can reveal.
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The ILS sector is continuing to attract new investors with recent cat bond fund launches from two asset managers, Trading Risk understands.
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The Texas Windstorm Insurance Association (Twia) has reduced its catastrophe reinsurance in advance of this year's hurricane season, according to sister publication The Insurance Insider