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ILWs

  • Specialist ILS fund managers are coming under increased fee pressure from institutional investors, despite increased inflows into the sector, Trading Risk has found
  • The cat bond market has softened rapidly in the first quarter of 2013 as average premiums or rates-on-line (RoL) have dropped by 3 percent, according to a new report from Lane Financial
  • Property Claims Services (PCS) has made no increase to its previous industry loss figure for Superstorm Sandy of $18.75bn, after expanding the estimate by 70 percent in January
  • RenaissanceRe CEO Neill Currie said the company is likely to do more "transformer" business where it acts as an intermediary for third-party capital and protection buyers
  • Pricing on Japanese industry loss warranties (ILWs) has softened by about 25 percent since last year as the reinsurance market prepares for a static 1 April renewal season, sources said
  • RenaissanceRe CEO Neill Currie said the company is likely to do more "transformer" business where it acts as an intermediary for third-party capital and protection buyers, while speaking at the recent Bank of America Merrill Lynch insurance conference.
  • Credit Suisse Asset Management has released roughly 80 percent of the assets in the hurricane Sandy side pocket it created for the Iris Low Volatility Plus Fund.
  • Ariel veteran Don Kramer has hired two senior new executives to join his start-up fund manager ILS Capital Management after Jerome Faure and Alex Krutov left the organisation, Trading Risk can reveal.
  • Credit Suisse Asset Management, the manager for the £51mn DCG Iris fund, said it believes it is likely that the final PCS loss estimate for Superstorm Sandy will break the $20bn barrier and reach up to $22.5bn.
  • London-listed reinsurance fund Catco has kept its Sandy loss forecast unchanged despite the sharp increase in the PCS loss estimate to $18.75bn
  • PCS has significantly increased its industry loss estimate for Hurricane Sandy to $18.75bn, Trading Risk understands.
  • The convergence industry expects another rosy year according to the annual Trading Risk Market Survey, with investor inflows forecast to continue their momentum in 2013
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