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Bermudian reinsurers have taken advantage of falling rates and ceded a significantly higher proportion of their business to retro writers in the first quarter of 2014, according to analysis from sister publication Inside Data.
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Florida reinsurance programmes renewed on average between 12.5 percent and 20 percent below 2013 levels, with retro rates falling by 15-20 percent, according to Guy Carpenter.
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Swiss-based insurance investment manager Twelve Capital has issued its fourth cat bond lite, the $28mn Dodeka IV deal, including a tranche of risk exposed to Gulf of Mexico wind losses.
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Montpelier Re's London-listed Blue Capital Global Reinsurance fund delivered an 0.47 percent increase to net asset value (NAV) over the first quarter of 2014, according to its latest interim management statement.
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The Corporation of Lloyd's said in its latest three year plan that it will embrace the trend for growth in the convergence market, but that its presence in the property catastrophe reinsurance market could shrink in the future.
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The Blue Capital Global Reinsurance Fund delivered an 11.8 percent increase in net asset value per share over the course of 2013, the company said as it released its annual results today.
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Japanese earthquake industry loss warranty (ILW) covers have softened by 25 percent year-on-year at the $10bn trigger level, according to pricing sheets obtained by Trading Risk.
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As the Australian state of Queensland braces itself ahead of Cyclone Ita, which is expected to hit its far north coast tomorrow (11 April), ILS investors are putting in opportunistic bids on some of the three cat bonds with potential exposure to the storm, Trading Risk understands.
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ILS Advisers will launch a new public fund-of-funds in the ILS market tomorrow (1 April) with $21mn of commitments, the firm told Trading Risk.
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A number of Bermudian reinsurers have significantly reduced their net probable maximum loss (PML) figures for major catastrophe events as of 1 January 2014 after topping up on retrocession cover, analysis by sister publication The Insurance Insider's Data Room shows.
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JLT has completed the tie-up of its Bermudian reinsurance broking arms following the acquisition of Towers Watson's reinsurance broking business last year.
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Swiss insurance investment manager Twelve Capital announced that it has issued its second cat bond lite, the $25mn Dodeka II deal
