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Blue Capital Reinsurance Holdings (BCRH) has reported net income of $14.3mn for 2016, a 31 percent decrease from the $20.7mn profit recorded a year earlier, as it suffered from higher claims.
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Rates on loss-free retrocession programmes fell between 2.5 to 5.0 percent at the start of 2017, JLT Re estimated in a retrospective report on the 1 January renewals period released today.
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Twelve Capital has completed a $19.45mn Dodeka XI cat bond lite deal, according to a Bermuda Stock Exchange listing
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Hannover Re's Kaith Re segregated cell platform listed a $9.99mn transaction on the Bermuda Stock Exchange on 30 December, taking annual cat bond lite volumes to $213mn.
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Cat bond premiums remained relatively stable in Q4 after falling 11 percent in the third quarter, according to Lane Financial's rate-on-line index.
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Industry loss warranty (ILW) purchasing by ILS funds has helped to drive incremental volumes in the niche sector in 2016, market participants said.
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The Open Protocol Working Group has released a proposed reporting template for insurance funds and is seeking industry feedback on the initiative by the end of January 2017.
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The volume of livecat trading of industry loss warranties (ILWs) prompted by Hurricane Matthew may have reached up to $150mn-$200mn, according to sources contacted by Trading Risk.
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Cat bond premiums fell by 11.3 percent during the third quarter, according to Lane Financial's rate-on-line index.
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Hurricane Matthew has prompted the most active livecat trading of industry loss warranties (ILWs) since Superstorm Sandy.
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Insurers are preparing to pay out under business interruption (BI) policies in place to cover repairs to a production vessel owned by Tullow Oil, the company confirmed.
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CEA grows; Fema flood buy; Scales launch; Italian earthquake; Wildfire losses ease; Auto flood losses; Legacy deal for CPPIB
