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Catastrophe bonds

  • Hiscox's asset management platform Kiskadee Investment Managers wrote $67.7mn of gross written premium in Q1 2016, up 37 percent on the prior-year period, the (re)insurer announced today (10 May).
  • Fronting carrier State National is set to begin acquiring insurance shell companies for Nephila Capital this year, which will give it separate entities to write primary business on behalf of the Bermudian fund manager
  • Hannover Re took just EUR57mn of net major catastrophe losses in the first quarter, down from EUR62mn in the same period a year ago.
  • Retro-focused fund manager Markel Catco intends to appoint Lindsay Watson as chief underwriting officer after Graham Wood stepped down from the position
  • Reinsurer quota shares and the industry loss warranty (ILW) market are the most likely source of claims for ILS investors from the Fort McMurray wildfire
  • Leadenhall Capital Partners has added two new operational staff to its team, as its assets under management have grown 16 percent from the start of the year to reach $2.8bn.
  • Alleghany earned $3.1mn during the first quarter from its stake in funds managed by Pillar Capital Management, down from $6.6mn in the same period a year earlier
  • Allianz Risk Transfer (ART), backed by Nephila Capital, has executed a 10-year proxy revenue swap with Capital Power's Bloom Wind Farm, in what the company said was the first in a "robust pipeline" of future deals supporting the development of new wind power plants.
  • Markel reported a small quarterly loss in its investment management segment in the first quarter, following its acquisition of Bermudian fund manager Catco last year.
  • Lancashire reported a drop in profit commission from its Kinesis sidecar in the first quarter to $1.8mn, compared to $5.1mn in Q1 2015
  • Allstate bought $130mn of new catastrophe limit for the 2016-17 year to fill in gaps around its cat bonds, it disclosed as it reported its Q1 results.
  • Aon Insurance Managers has appointed Anup Seth to the role of managing director in the firm's Bermuda office.
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