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Hudson Structured Capital Management's new reinsurance and transport finance funds are now up and running after securing a $250mn allocation from Blackstone, Trading Risk understands.
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Florida Citizens Property Insurance said that despite substantially reducing its reinsurance limit for 2016, it will still be able to handle a 1 in 100 year storm along the coast, as well as a second 1 in 16 year storm.
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Florida carrier Security First is now seeking to raise $75mn of cover in its first cat bond transaction after Everest Re provided $25mn of the $100mn reinsurance limit targeted, Trading Risk understands.
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Florida Citizens Property Insurance has received board approval for its plans to place just $221mn of new reinsurance limit for the 2016 hurricane season, confirming expectations that it would significantly reduce its reinsurance spend after shrinking its portfolio.
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Florida reinsurance rates are nearing the levels last seen in the 1990s, according to JLT Re global head of analytics David Flandro.
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The spectre of interest rate hikes is a reason why the ILS asset class remains attractive for investors, said BMO Global Asset Management's chief investment officer Jitzes Noorman.
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Aon Hewitt has appointed Matthew Fletcher as a senior consultant to its risk settlement group, where he will be working on all issues surrounding longevity risk.
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The World Bank has launched a Pandemic Emergency Financing Facility (PEF), with plans to raise up to $500mn of insurance cover to respond to infectious diseases.
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The Canada Pension Plan (CPP) fund delivered a net investment return of 3.4 percent over the year to 31 March
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MyLotto24 said that the special insurance that helped to cover a EUR37mn lottery prize had not impacted its collateralised reinsurance arrangements
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Catastrophe data specialist Perils said the volume of on-risk European (re)insurance limits that use its industry loss data as a trigger fell by more than 20 percent in the year to March.
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A shift by regulators to require more diversification in Ucits mutual funds is "very sensible", given the illiquidity that could arise after a catastrophe event, Credit Suisse's head of ILS Niklaus Hilti said in the latest Clearpath ILS report.
