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The 6.2 magnitude earthquake that struck the southern Japanese island of Kyushu on Thursday night (April 14) local time has killed nine people and injured 860, according to officials.
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Florida insurer United Insurance Holdings (UPC Insurance) said its first quarter catastrophe losses have reached $15mn pre-tax, eroding the deductible on its new $20mn winter-storm aggregate reinsurance programme
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The Pioneer ILS Interval fund reached $95.92mn by 31 January 2016, going up by $20.5mn in the preceding three months, as it more than doubled in size just over a year after launching
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Geneva-based Lombard Odier Investment Managers has officially launched its new ILS fund, which it said would target returns of 2 to 4 percent above Libor rates, net of fees.
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The Georgia Office of Insurance Regulation has approved Heritage P&C to write P&C business in the state
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The Lloyd's special purpose syndicate (SPS) backed by Credit Suisse Asset Management's ILS team made an £80,000 loss in its first year, as its start-up premium income did not quite stretch to cover claims and expenses.
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Swiss-based Plenum is partnering with Bermuda reinsurer Sequant Re to launch a new ILS fund which will offer opportunities for diversification away from peak risk.
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Swedish state pension fund AP3 reported total insurance linked assets of 2.7bn krona ($319mn) at the end of 2015, up from 1.8bn krona in 2014 ($230mn) and 1.6bn krona in 2013, according to the fund's 2015 annual report.
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The net asset value of Stone Ridge's ILS funds increased to $4.4bn at the end of January, boosted by an increase of over 20 percent in the assets of the Reinsurance Risk Premium Interval fund.
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Alternative capital increased by 12 percent to $72bn during 2015, with continued increases in collateralised reinsurance contributing to growth, according to Aon Benfield's latest reinsurance market outlook.
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The Lane rate-on-line index rose from 86.6 to 93.1 over the last quarter, indicating that rates have firmed since December, according to Lane Financial's latest quarterly report on the ILS market.
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Seven of the nine cat bonds that came to market during Q1 had exposure to North America, showing that cedants were once more looking to secure deals ahead of the North Atlantic hurricane season on 1 June.
