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Aviation rates are poised to rise after a year of heavy losses for the niche insurance market, with Brit Insurance CEO Mark Cloutier predicting rates could increase by up to 50 percent.
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One of the questions the reinsurance market has been grappling with over the past year is how to make a "strategic sidecar" work
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A number of reinsurers have highlighted new or improved retro purchases in 2014 as one of the ways they are combatting the soft market.
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Munich Re is in the early stages of marketing a new sidecar to investors that it hopes will be a much larger replacement for the $63mn Eden Re vehicle, Trading Risk understands
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Mt Logan Re has hired Mark Booth from Aspen to head up its property reinsurance underwriting.
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Matthew Stern has left Deutsche Bank and rejoined Willkie Farr & Gallagher as a senior associate in the corporate and financial services department in New York, focusing on capital market reinsurance transactions.
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The London-listed, closed-ended Catco Reinsurance Opportunities Fund has reported a net asset value (NAV) capital return of 4.27 percent in the first half of the year compared to 7.9 percent in the prior-year period.
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The number of new special purpose insurers (SPIs) registered in Bermuda over the first half of 2014 has dipped to 16 from 20 in the same period last year.
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RenaissanceRe's managed catastrophe premiums dropped by $170.5mn or 28 percent year-on-year to $437.9mn in the second quarter, as softening rates impacted earnings.
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New investors placed capital into Mt Logan Re at 1 July, increasing the sidecar's capacity even after it paid out profits to initial backers, according to Everest Re's chief underwriting officer John Doucette.
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Aspen may begin lowering its net appetite for property cat risk if pricing slides further after the US hurricane season, CEO Chris O'Kane said on a second quarter earnings call.
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Reserve releases boosted underwriting results in the second quarter of 2014 for Bermudian reinsurer Validus and its managed funds business AlphaCat, as their premium income written and earned declined year-on-year.
