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Hudson Structured settles brand dispute; Future Fund expands ILS brief; Stone Ridge consolidates
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Vario Partners has brought in a large Middle Eastern reinsurer as a minority shareholder as it prepares to launch its first fund to invest in whole-account insurance securities, the company told Trading Risk.
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Gator Re prices have regained further ground as the bond approaches maturity without covered losses notably rising.
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Cat bond yields continued to fall in late summer, as half of the hurricane season elapsed without a US storm threat.
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An $8.9mn cat bond lite completed in late August on Artex's issuance platform has taken total cat bond lite volumes for the year to $203mn, according to Trading Risk records.
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Allianz Risk Transfer's latest Market Re private cat bond has fallen behind schedule as the company looks to raise weather reinsurance from the ILS market for the first time since 1999, Trading Risk understands.
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A significant chunk of the outstanding cat bond market will mature ahead of the next hurricane season, which could put further pressure on spreads after the sector shrank by $2bn in the first half of 2016.
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Twelve Capital is looking to bring in new backing as one of its original stakeholders wants to find an exit, Trading Risk understands.
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Hermine made landfall as a category one hurricane in northwest Florida early Friday, becoming the first hurricane to hit the state in 11 years, but data shows that the insurance industry's exposure in the landfall region is relatively low.
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Nephila Capital's fronting partner National Specialty Insurance Company is among five carriers recently approved to take over further policies from state-backed insurer Florida Citizens Property Insurance
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Vario Partners has appointed two new staff as it targets completing its first whole account insurance securitisations in the January 2017 renewals
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The cat bond portfolio managed by Swedish state pension fund AP3 shrank by 25 percent from 2.7bn krona ($319mn) at the end of 2015 to 2.1bn krona ($240mn) at 30 June, according to the fund's latest half-year report
