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Catastrophe bonds

  • Swiss Re kept its P&C cessions to retrocessionaires steady in 2015, transferring $204mn of its total $15.91bn premiums written
  • Munich Re said that its head of life reinsurance and human resources Joachim Wenning will take over from CEO Nikolaus von Bomhard next April.
  • Several Schroders entities have reduced their shareholding in the Catco Reinsurance Opportunities Fund to just under the 10 percent threshold, according to a stock exchange announcement.
  • Bermudian legacy fund ILS Property & Casualty has acquired a US (re)insurer in run-off from Groupama, the company announced today (14 March).
  • Twia to lift retention; Allied assumes less Aeolus premium; First lottery ILS payout; Structured settlements deal; Cat bond lites to go west; February US tornadoes cost insurers...
  • Hannover Re fronted EUR4.7bn of limit for collateralised reinsurance writers in 2015, up 52 percent from EUR3.1bn the previous year, according to the company's annual report
  • Australian carrier IAG drew down A$130mn ($92mn) of cover from its A$450mn aggregate reinsurance programme in 2015, in what would have been one of the more significant claims for ILS funds last year
  • Run-off specialist Enstar is seeking to raise $700mn of capital for its Aligned Re joint venture with UBS O'Connor
  • RenaissanceRe raised $62.5mn from third-party investors for its Upsilon vehicle in January 2016, less than half the $153.7mn of subscriptions received in full-year 2015
  • Amlin earned £16.5mn ($23.5mn) of fee income from Leadenhall Capital Partners in 2015, up from £2.4mn in the prior year before it had consolidated the asset manager onto its balance sheet
  • A Fairfax subsidiary is suing Michael Millette's start-up Hudson Structured Capital Management for trademark infringement in a Connecticut district court
  • Cat bond trading slowed in early March amid uncertainty over the outlook for upcoming issuance
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