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Chris Parry has left Aon Securities, where he headed the international division of the capital markets team, and is expected to join RenaissanceRe Ventures later this summer, sources said.
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Standard & Poor's (S&P) raised its credit rating on the Everglades Re series 2014-1 notes from B to B+ following the final annual reset of the $1.5bn cat bond.
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JLT Re said that the 1 June renewal season has marked a convergence of rates offered by traditional and ILS capacity
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Canadian-listed investment company Premier Diversified Holdings has acquired a further $400,000 shares in Sequant Re Holdings, taking its share in the start-up ILS manager to just above 35 percent.
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Allianz Risk Transfer, the fronting carrier for Nephila Capital, is looking to raise $150mn of reinsurance cover from the cat bond market, Trading Risk understands.
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Many Florida specialist insurers have improved their profitability and surplus in recent years but they remain unlikely to achieve an A rating from Fitch, the agency said.
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Severe weather pounded the US Plains and Midwest this week (21-26 May) killing at least one person and injuring several others, Aon Benfield's Impact Forecasting said in its weekly cat report.
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Heritage Insurance Holdings has appointed Steven Martindale as chief financial officer (CFO) to replace Stephen Rohde, who retires next month.
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United P&C is set to raise its targeted $100mn of reinsurance cover from the Laetere Re cat bond, as the senior layers priced at the lower end of the target range, Trading Risk understands.
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Hannover Re's Kaith Re platform has issued a $3.75mn cat bond lite transaction, Bermuda Stock Exchange (BSX) listings show.
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Credit Suisse's Operational Re insurance bond has closed at CHF220mn, up CHF20mn in the final marketing stages, with the notes listed on the Bermuda Stock Exchange (BSX) today (26 May).
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Florida carrier Security First has set final pricing for its first cat bond transaction at 400 basis points (bps), down 11 percent from the premium it initially expected to pay, Trading Risk understands.
