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Brit's addition of North American property insurance binder business to its Versutus sidecar was a further example of carriers offering capital market investors access to primary insurance portfolios, following the Limestone vehicle launched by Liberty Mutual this year.
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Aberdeen ups Blue Capital stake; Korean ILS interest; Plenum fund grows; ILS returns
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The Gaia cat bond fund is one of two managed by Schroders to be soft-closed to new investment this month, according to reports.
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Issuers are increasingly choosing World Bank debt as the investment vehicle for cat bond collateral, following an uptick in US Libor yields throughout 2016
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Credit Suisse is approaching investors to sound out market appetite for further Operational Re cat bond draw-downs, after agreeing its first deal last year, Trading Risk understands.
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Deutsche Bank has merged its ILS staff into its investment banking coverage.
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Cat bond spreads rose slightly throughout February but yields remained below levels that prevailed on the ILS market a year ago, according to data from RMS.
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Several ILS sponsors have taken advantage of a softening cat bond market in recent weeks, as insurance spreads on new deals dropped 12 percent on a weighted average basis during the marketing process, according to Trading Risk data.
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The World Bank is set to complete a risk transfer later this year as part of its Pandemic Emergency Financing Facility (PEF), according to Michael Bennett, head of derivatives and structured finance at the organisation
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A reinsurance trading platform that is targeting up to a $1bn launch in 2018 begun its first simulation this month, with a group of 30-40 individuals from various ILS funds and reinsurance participants lined up to test the technology.
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Florida provides two-thirds of the exposure and margin in the reinsurance industry's US wind portfolio, according to data from Aon Benfield
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American Strategic Insurance has received its first payout from the Gator Re cat bond to help meet storm losses incurred last year, despite some investors suggesting that certain claims should not be covered by the transaction, Trading Risk understands.
