-
Arch-backed Watford Re has secured an A- AM Best rating for its US domiciled surplus lines insurer, Watford Specialty Insurance Company (WSIC).
-
Retro-focused fund manager Markel Catco has raised $10.9mn of gross proceeds from a new share issuance for its London and Bermuda-listed Reinsurance Opportunities Fund.
-
Japanese big three insurer Mitsui Sumitomo has hired Shin Sasaki as fund manager of its ILS fund Sumitomo Mitsui Asset Management
-
Pricing on Sompo Japan Nipponkoa's Aozora Re cat bond settled at the lower end of initial guidance, after the deal expanded its target size to $220mn, Trading Risk understands.
-
Perils has increased its estimate of industry insured losses from UK storms Eva and Frank by 9.8 percent to £578mn ($819mn).
-
State Farm is looking to renew its expiring Merna Re cat bond in a private club transaction, Trading Risk understands.
-
Swedish pension fund AP2 added Credit Suisse Asset Management to its roster of ILS managers in 2015, as it expanded its overall holdings in the sector by more than $200mn to take it beyond the $650mn mark.
-
Kane has announced that it expects to close the sale of its insurance management operations to Artex Risk Solutions, a subsidiary of international broking group Arthur J Gallagher (AJG), by 31 March.
-
Sompo Japan Nipponkoa has expanded the target size on its new Aozora Re cat bond as anticipated pricing on the deal fell to the bottom end of the guidance range, Trading Risk understands.
-
Fitch Ratings said a widening gap between reported and normalised underwriting results from the four major European reinsurers meant that reinsurance pricing could become more sensitive to even modest increases in major loss experience.
-
The California Earthquake Authority (CEA) added $175mn of two-year reinsurance cover to take its total traditional protection up to $3.44bn in December
-
The UK Budget, unveiled today (16 March) by Chancellor of the Exchequer George Osborne, has outlined plans for legislation to address tax treatment of ILS vehicles.
