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The cat bond market is set to go through a new cycle of price adjustment after the market has shrunk in the first half of 2016, GC Securities global head of ILS structuring Cory Anger said at the Munich Re ILS roundtable hosted in Monte Carlo today.
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Top 10 ILS manager Stone Ridge Asset Management is working to establish or acquire a Lloyd's corporate member, a vehicle that would allow it to invest in London market syndicates, sources told Trading Risk.
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Cooperation and joint ventures provide a better way for the insurance industry to consolidate and achieve efficiencies than M&A, Axis Re CEO Jay Nichols said at this morning's Pre Monte Carlo briefing, hosted by sister title The Insurance Insider
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A prolonged period of reinsurance market consolidation is the likely outcome of pressure from capital market capacity, according to A.M. Best's special report on the reinsurance sector.
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The varied, international nature of second quarter catastrophe events has made reinsurer sidecars the most likely source of losses for the ILS market, as the vehicles help to keep the earnings hit for carriers to a manageable level.
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Second quarter catastrophe losses had a patchy impact on reinsurers' fee income from managed capital.
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Hudson Structured settles brand dispute; Future Fund expands ILS brief; Stone Ridge consolidates
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Stone Ridge Asset Management plans to seek approval from its board of trustees to amalgamate its Reinsurance Risk Premium Fund into the High Yield Reinsurance Risk Premium Fund, according to a US SEC filing
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PCS has pushed its estimate of insured losses from the Canada wildfires slightly higher to C$4.67bn ($3.63bn), from an initial projection of C$4.63bn ($3.60bn).
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ANV founder Matt Fairfield is close to launching a $1bn Zurich-based reinsurer with support from a family office investor, sister publication The Insurance Insider reported.
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Hannover Re passed on EUR140mn ($156mn) of claims from catastrophes to retro providers in the first half of 2016
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Chubb has appointed Michael Kessler chief reinsurance officer to replace Bill O'Farrell, who is leaving to pursue other opportunities, the company said yesterday
