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Alleghany has revealed that its reinsurance subsidiary TransRe has been "quietly building" its capabilities in the alternative risk transfer market, drawing on the group's relationship with Ares, the alternative asset manager it part-owns.
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Hiscox CEO Bronek Masojada said that the firm fell short of its target to deploy $250mn through its collateralised vehicle Kiskadee Re because market softening meant the pledged capital could not be deployed at acceptable return levels.
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Hiscox said it has deployed $110mn of capital through its Kiskadee Re collateralised reinsurance funds, well below its $250mn target announced in November.
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The retrocession market provided significantly more aggregate capacity during the 1 January renewals as demand for occurrence covers shrank, Credit Suisse Asset Management's head of ILS Niklaus Hilti told Trading Risk
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Scor said savings on the renewal of its retro programme at 1 January 2014 almost compensated for a worse projected underwriting result due to the softer reinsurance markets.
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Hannover Re added roughly EUR20mn of limit to its retrocession programme for 2014 and managed to cut costs by 10 percent, with the savings representing a low double-digit million euro figure.
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Blue Capital expands; PartnerRe shrinks cat; Aspen back in cat; Mt Logan derives profit; DaVinci Re profit up
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The two leading reinsurer-backed ILS asset managers pulled back their underwriting activities in the January 2014 renewals
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Catlin has established its first non-Lloyd's sidecar for 2014 in what the company's CEO said was a new initiative going into "unchartered territory"
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Catlin has set aside capital to invest in two reinsurance funds as it weighs up whether to enter the third-party asset management space, according to the company's founding CEO Stephen Catlin.
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Aspen Capital Markets now has $100mn of assets under management, CEO Chris O'Kane said on the company's earnings call.
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Catlin has established a new non-Lloyd's vehicle that provides it with collateralised reinsurance support, the company said as it released its 2013 results.
