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Fronting boosts Allianz; Lloyd's index in progress; Securis SPS drives Novae top-line growth; Kiskadee premiums up 37% in Q1; Hannover Re expands April cat portfolio; Athene set to IPO; TigerRisk opens ILS trading desk; ART signs 10-year wind risk swap
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Risk-adjusted cat bond spreads have dipped below 2015 yields for the first time this year, according to RMS data.
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Cat bond prices continued to edge upwards in May, amid intense buyer demand when there was very little for sale.
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A new Residential Re cat bond opened second quarter issuance with a bang as its pricing slid significantly, but ILS investors were cautious about reading too much into the deal in a month where only one nat cat transaction completed.
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The London Market Group has called for UK watchdog the Prudential Regulation Authority to ensure that ILS structures remain tax-free and to introduce protected cell companies alongside insurance special purpose vehicles
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Collateralised reinsurers and ILS investors captured 12 percent more premium from the top 10 Florida carriers in 2015 than in 2014, according to data collected by Trading Risk.
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Demand for Florida retro has been quieter leading into the 1 June renewal season this year, as the growth in reinsurance demand slows.
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The Texas Windstorm Insurance Association (TWIA) board of directors unanimously approved the recommendation to purchase a total of $2.2bn in reinsurance coverage above a $2.7bn retention for the 2016 hurricane season.
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Markel Catco has appointed Alissa Fredricks as specialist actuary.
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Pricing indications on Munich Re's Queen Street XII Re cat bond have dropped 8 percent below the initial targeted midpoint, Trading Risk understands.
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Willis Capital Markets & Advisory (WCMA) has named Rafal Walkiewicz as CEO following the departure of his former co-CEO Michael Guo.
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Lloyd's insurer Novae said its special purpose syndicate launched with ILS fund manager Securis was a significant factor behind growth in the first quarter, as it reported a 9.8 percent increase in gross written premiums to £282.8mn ($408.3mn)
