Sidecars

Hannover Re has structured and placed an extreme mortality swap with capital market investors, the German carrier announced today (16 December).

White Mountains reinsurance subsidiary Sirius has decided to close its ILS fund in 2015 as it turns its attention to developing its quota share business with third-party investors, Trading Risk revealed in late November.

Catlin COO Paul Jardine said at a recent Bermuda Convergence conference that the traditional reinsurance model of writing and keeping risk was no longer appropriate and urged the industry to think more about warehousing and distributing risk.

One of the options for up-for-sale Montpelier Re may be to sell its Lloyd's business as a standalone unit and restructure the remainder as a fund manager, sources told sister title The Insurance Insider.

Investors in renewing 2015 sidecars may be looking at projected net returns that have in some cases halved from 2014, Trading Risk understands.

Jonathan Spry has taken on a new role as head of insurance solutions and advisory at StormHarbour Securities, an independent securities dealer with bases in London and New York.

RenaissanceRe CEO Kevin O'Donnell has told analysts that the firm would consider managing Platinum Underwriters Holdings' casualty and specialty risk on third party platforms, but only in the long term.

White Mountains' reinsurance subsidiary Sirius is set to close its ILS fund in 2015 however the company will keep the Sirius Capital Markets (SCM) division open and appoint a new president, Trading Risk has learned.

The catastrophe specialists among the peer group of short-tail Bermudian reinsurers tracked by The Insurance Insider's Data Room focused on other business lines to deliver top-line premium growth in the third quarter

Arch Re CEO Marc Grandisson has questioned whether the reinsurance market will see a significant shift away from its current ‘buy and hold' model as he warned that acting more as a warehouse and distributor of risk could lead to "problems down the road".

LGT Group has restructured its ILS division to become a separate legal entity in order to segregate its activities from LGT Capital Partners' fund-of-fund investments.

Multi-Strat Re has signed up another asset manager to its reinsurance platform with the launch of Crabel Re as a class 3A Bermudian reinsurer.