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Retrocession and US property catastrophe rates moved closer to flattening out at the 1 January renewals.
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JP Morgan has shut down its ILS trading desk after citing concerns over value in the sector, Trading Risk revealed late last month.
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Returns from a group of cat bond funds tracked by Trading Risk almost doubled last year from their performance in 2015, as softening spreads bolstered values. Higher-risk deals over the past couple of years have also boosted returns available to investors.
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An upcoming payout from the Gator Re cat bond is on track to make tornado losses more costly for ILS investors than the sector's hurricane claims to date.
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Average cat bond spreads finished 2016 trailing 60 to 70 basis points below yields that were available at the same point in 2015, according to data from RMS.
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QBE was the ultimate sponsor of the recent $187mn Resilience Re club cat bond, according to sources.
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PartnerRe established a new retro sidecar, Mercalli Re, at the 1 January renewals, sources told Trading Risk.
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ILS brokers have estimated that cat bond issuance may total up to $8bn for 2017, driven by a large volume of upcoming maturities and the advantageous pricing available to sponsors.
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The top 10 ILS fund managers have exceeded $50bn in assets under management (AuM) for 2017, as they posted their fastest rate of growth in the past two years in the run-up to the 1 January renewals.
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AlphaCat Managers said it had received the first third-party investments in its BetaCat cat bond tracker fund in the past quarter, as its overall assets under management rose to $2.7bn as of 1 January 2017.
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Artex has issued a $50.2mn cat bond lite on behalf of its Segregated Account DX, according to a Bermuda Stock Exchange listing
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Arch Capital and private equity firm Kelso & Co have backed the $510mn launch of a new legacy reinsurer, Premia Re
