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Aon Benfield Securities president Paul Schultz said that the alternative reinsurance market would have to "grow past" modelled risk as he predicted that $100bn of new capital would enter the market over the next five years.
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The next wave of ILS investors could emerge from a different source than the pension fund capital that has backed its development, according to speakers at the Trading Risk New York Rendez-Vous last month.
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AQR Re has raised $150mn for a new higher risk-return strategy that will be deployed in 2014 and include a substantial focus on retrocession products.
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Scor is seeking to establish a $60mn sidecar as part of its 2014 retrocession protection, building on its strategy to seek greater quota-share cover, Trading Risk can reveal.
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RenaissanceRe is working on renewing its Upsilon Re retro sidecar in 2014 but it will not look to expand its DaVinci Re sidecar, CEO Kevin O'Donnell said on a third-quarter earnings call.
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RenaissanceRe's DaVinci Re sidecar made a $65.2mn profit during the third quarter of 2013, down 12 percent from $74.2mn for the same period last year, as the vehicle's earned premium income base fell by 4 percent to $87.4mn.
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Lancashire has extended the latest fundraising deadline for its Kinesis reinsurance fund by a week to give the London-listed (re)insurer more time to gauge client demand, it said today (6 November)
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Axis CEO Albert Benchimol said the reinsurer has done a couple of small third-party deals "which look a lot more like retro than anything else" but that he expects the company's progress in this area to be gradual.
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ILS executive Daniel Brookman has left Barclays Capital and is expected to join Montpelier Re in a new capital markets role, sources told Trading Risk.
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Montpelier Re plans to raise $125mn from the initial public offering of Blue Capital Re, according to an updated prospectus filed yesterday with the Securities and Exchange Commission.
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Aspen Re is expected to announce its first sidecar Silverton Re with about $65mn of capital later this week, Trading Risk understands.
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PartnerRe passed $4.1mn of profit to third-party investors in Q3, in what was the second quarter of operations for its Lorenz Re sidecar
