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Ace CEO Evan Greenberg said that the insurer is prepared to take a lead in changing the way the industry transfers risk, as risk originators consider the possibility of cutting out the wholesale reinsurance market to go direct to capital providers.
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Texas-based hedge fund HBK Investments has cautiously returned to investing in the ILS market, after pulling back from reinsurance in the wake of the financial crisis, sources said.
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The value of debt issued by Aspen's Silverton Re sidecar has grown 29 percent in the past nine months to reach $64.5mn, and also grew by 15 percent in the third quarter from $56mn mid-year
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Everest Re wrote $1.3bn of reinsurance premiums in the third quarter, an increase of 19.5 percent from the same period last year.
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Credit Suisse Asset Management is in line to secure a Lloyd's presence via a special purpose syndicate (SPS) with Barbican, sister title The Insurance Insider revealed yesterday
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The recent Mariah Re dispute serves as a reminder to participants in ILS transactions of the value of clear and transparent legal documents and disclosures to mitigate the litigation risks when claims materially exceed modelled losses.
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Sidecar investors may have access to vehicles from sponsors new to the market in 2015, sources said.
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Reinsurer sidecars have accumulated average returns of 8.3 percent for the first seven months of 2014, according to the latest quarterly filings from mutual fund manager Stone Ridge.
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Validus subsidiary AlphaCat is preparing to launch a new cat bond fund that would pursue a passive tracker strategy, Trading Risk understands
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Ace is in talks with a select group of reinsurance carriers about building a multi-year facility to provide about 20 percent of its programme, sister publication The Insurance Insider reported earlier this week.
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It is likely other larger ILS funds may consider following Credit Suisse Asset Management's lead to set up rated vehicles as they seek new ways of accessing risk, according to Rick Thomas, executive director at Willis Re.
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Stone Ridge Asset Management allocated $30mn to Bermudian retro writer Aeolus in May, according to the latest quarterly reports from the US fund manager.
