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Catastrophe bonds

  • PCS data was used in $1.9bn of cat bond issuance in the first nine months of 2016, up from $1.3bn in the same period last year, the firm said.
  • Hurricane Matthew has prompted the most active livecat trading of industry loss warranties (ILWs) since Superstorm Sandy.
  • Japanese big three insurer Sompo is in advanced discussions with Endurance, the Bermudian (re)insurer confirmed.
  • The coastal US market is likely to be where US primary insurers look to build new, more direct relationships with ILS investors.
  • UPC Insurance will use Promissum Re to augment rather than replace existing relationships with ILS funds as it looks to make greater use of the sidecar in the coming years, according to the Florida-based insurer's CEO John Forney.
  • Aon Securities has appointed Darren Bailey to lead the company's London-based capital markets business, replenishing its UK operation after losing two staff from the unit earlier this summer
  • London-based ILS manager Leadenhall Capital Partners has established a US operation with the hire of Brian Weatherholtz, a former GE and Swiss Re executive.
  • 2016 marked the 60th anniversary of the Monte Carlo Rendez-Vous, and an extraordinarily humid conference for delegates rushing from meetings at the Café de Paris to the Hermitage.
  • Stone Ridge Asset Management's three reinsurance funds grew 4 percent in its last quarterly reporting period to reach $4.95bn by the end of July, up from the $4.76bn recorded at the end of April
  • Insurers are preparing to pay out under business interruption (BI) policies in place to cover repairs to a production vessel owned by Tullow Oil, the company confirmed.
  • CEA grows; Fema flood buy; Scales launch; Italian earthquake; Wildfire losses ease; Auto flood losses; Legacy deal for CPPIB
  • Cat bond spreads dropped below 4 percent on a loss-free basis by the end of September, according to RMS, as rates continued to edge below yields recorded in 2015 and 2014.
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