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Amid a very quiet third quarter for new ILS issuance, average premiums in the ILS and industry loss warranty (ILW) markets dropped by 9.5 percent, according to Lane Financial's rate-on-line index
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A greater focus on parametric cat bonds could help make the ILS market more robust and avoid the problem of investors selling on risk, AIG's chief reinsurance officer Samir Shah suggested at the Trading Risk Monte Carlo roundtable.
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The volumes of US-linked industry loss warranties (ILWs) traded in the first half of 2014 came to about $800mn as suppliers broadened the terms of their cover, according to estimates from Aon's Global Re Specialty unit
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Average premiums in the ILS and ILW markets dropped by 9.5 percent during the third quarter, according to Lane Financial's rate-on-line index, as the market began softening again after just one quarter's respite from the downward trend.
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Pioneer Investment Management has launched a new ILS fund offering that will invest in cat bonds and reinsurance quota share vehicles, according to Securities and Exchange Commission (SEC) filings.
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The volume of Perils-based limits at risk has fallen 14 percent over the past year to $3.7bn, primarily due to a weaker trading environment of industry loss warranties, the European loss reporting agency said today (14 September).
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Average ILS fund returns totalled 0.4 percent in July, the Eurekahedge ILS Advisers index shows.
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Brit has expanded its catastrophe reinsurance in the first half of 2014 even as it cut back its spending on cover by 5 percent year-on-year to £152.6mn.
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The Caribbean Catastrophe Risk Insurance Facility (CCRIF), through the World Bank, was one of eight new sponsors to come to the cat bond market in the first half of 2014, pushing total issuance volumes above $6bn
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Average risk-adjusted premiums in the ILS and industry loss warranty (ILW) markets rose in the second quarter of 2014 following five consecutive quarters of reductions, broker dealer Lane Financial estimated in its latest market report.
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Alleghany reinsurance subsidiary Transatlantic Holdings (TransRe) and the Pillar executive management have increased their respective stakes in Bermudian ILS manager Pillar Capital Management to 50 percent each.
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Nephila Capital co-founders Frank Majors and Greg Hagood, along with long-time colleague Barney Schauble, were named the Outstanding Contributors of the Year at the 2014 Trading Risk Awards in London last night (19 June)
