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Sidecars

  • Validus said that it bought more top-layer aggregate retrocession in the first quarter as the carrier reduced its 1-in-100-year probable maximum loss (PML) from US windstorm by 6 percent from year-end 2015.
  • Validus subsidiary AlphaCat returned $146.5mn of capital to investors in its sidecar during the first quarter as it focused on writing third-party business primarily through its two reinsurance funds
  • Everest Re sidecar Mt Logan's assets under management (AuM) have gone past $900mn in an increase of 33 percent from the first quarter of last year, the carrier's CEO of reinsurance operations John Doucette said on an earnings call
  • DaVinci Re reported a 9 percent year-on-year uplift in net profit for the first quarter, as it benefited from lower claims and improved investment results
  • Mt Logan Re has appointed former AIG executive Michael Beck to the new role of chief operations officer, the company announced today (25 April).
  • Aspen reported a 17 percent decline in gross property catastrophe reinsurance premiums written during the first quarter of 2016 compared to a year ago.
  • A group of reinsurer sidecars tracked by Trading Risk posted average returns of just above 5 percent in the three months to 31 January, implying they are on track to deliver annualised returns in the low 20 percent range
  • Allied World Q1 premium drop; Ontario Teachers'sells ANV; Alternative capital hits $72bn: Aon Benfield; RMS on Ecuador quake; Record rainfall floods Texas...
  • An organised city planner might well look at a road map of the reinsurance sector and weep
  • Dutch pension fund service provider PGGM has more than EUR3bn ($3.39bn) invested in the ILS sector after recruiting several reinsurer-led managers
  • Ontario Teachers' Pension Plan (OTPP) has agreed to sell Lloyd's insurer ANV for $218.7mn in cash to AmTrust, the fund announced today (19 April)
  • The Pioneer ILS Interval fund reached $95.92mn by 31 January 2016, going up by $20.5mn in the preceding three months, as it more than doubled in size just over a year after launching
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