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Collateralised reinsurance premiums assumed from Florida insurers ballooned from $18mn to $118mn between 2010 and 2014, according to Aon Securities head of analytics Sean McCarty.
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S&P downgrades MultiCat; ANV explores sale; Australia looks at ILS terror cover; US floods top $400mn; Horseshoe platform; Stone Ridge establishes fund; Besso to sell Optex; Pillar profits
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Mt Logan takes $6mn cat loss; Endurance cuts cat; Kinesis profits rise
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The two largest reinsurer-backed ILS managers increased their catastrophe premium base in the third quarter.
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Credit Suisse Asset Management (CSAM) has launched a new quota share fund that it expects will have $400mn to deploy in the January renewals.
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Fund manager Securis looks set to enter the Lloyd's market via a special purpose syndicate (SPS) sponsored by listed Lloyd's insurer Novae, Trading Risk can reveal.
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Lancashire earned $2.7mn of profits from its Kinesis sidecar during the third quarter of the year, an increase of 50 percent from Q3 2014.
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Markel has disclosed that it will pay a total purchase price of about $200mn in cash for its acquisition of Catco Investment Management, the Bermudian retro-focused fund manager.
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RenaissanceRe reported an increase in its managed catastrophe premium base during the third quarter, lifting managed premiums 25.7 percent to $87.9mn.
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The fair value of debt issued by Aspen's Silverton Re sidecar has risen by 19.5 percent over 2015 to reach $84.5mn at the end of the third quarter, according to the carrier's latest set of quarterly results.
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Everest Re CEO Dom Addesso said that if reinsurance rates fall by another 5 to 10 percent at the 1 January renewals, the Bermudian carrier would be forced to make "major modifications" to its portfolio.
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PartnerRe slashed its catastrophe net written premium (NWP) by 75 percent to $13mn in the third quarter as the reinsurer ramped up its retro buying.
