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RenaissanceRe sidecar DaVinci Re recorded a 7 percent year-on-year increase in third quarter net profit to $40.4mn, as lower claims and improved investment results boosted returns
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Axis reported $8.1mn of fee income from "strategic capital providers" in the third quarter, up fourfold from $2.1mn a year earlier after it established casualty underwriting vehicle Harrington Re with Blackstone.
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Validus reported a 49 percent year-on-year increase in Q3 income earned from its AlphaCat asset management platform, due to higher fee income and profits from its stake in the vehicle's higher-risk ILS strategies.
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Everest Re said it could bear a net fourth quarter loss of between $75mn and $200mn from Hurricane Matthew, based on a modelled industry loss of $3bn-$9bn, which it could absorb within quarterly earnings
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The coastal US market is likely to be where US primary insurers look to build new, more direct relationships with ILS investors.
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UPC Insurance will use Promissum Re to augment rather than replace existing relationships with ILS funds as it looks to make greater use of the sidecar in the coming years, according to the Florida-based insurer's CEO John Forney.
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Aon Securities has appointed Darren Bailey to lead the company's London-based capital markets business, replenishing its UK operation after losing two staff from the unit earlier this summer
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Stone Ridge Asset Management's three reinsurance funds grew 4 percent in its last quarterly reporting period to reach $4.95bn by the end of July, up from the $4.76bn recorded at the end of April
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Cat bond user base to shift; Axa wary on cat bonds
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Aon Securities has appointed Darren Bailey to lead the company's London-based capital markets business, replenishing its UK operation after losing two staff from the unit earlier this summer.
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The Pioneer ILS Interval Fund has increased its stake in TransRe's Pangaea sidecar, according to the fund's latest quarterly filings.
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Axa Investment Managers (Axa IM) has replenished its ILS team following the departure of ILS analyst and portfolio manager Benoît Liot, recruiting a former Swiss Re property underwriter to replace him.
