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Erik Manning's start-up ILS fund Lutèce Re has raised capital to begin underwriting retro business during the 1 January renewals, Trading Risk understands
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Credit Suisse US plan; Catco to raise $250mn; BlackRock targets cat bonds
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Collateralised reinsurance fund strategies took losses of 10-20 percent in September, Trading Risk understands
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Reinsurance pricing seems to rely on a certain amount of collective signalling in as much as it does number-crunching - as underwriters gauge how far they can push rates without losing business, by looking for fear in the eyes of their opposition
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Prudential and affiliated companies under the M&G brand have lowered their stake in Markel Catco's London-listed Reinsurance Opportunities fund, according to a stock exchange announcement.
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Barbican is in the early stages of planning to raise third-party capital in order to write collateralised retro cover for Lloyd's syndicates, it is understood.
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Barbican is planning to raise £160mn ($209mn) of capital to fund a collateralised reinsurance vehicle that provides stop-loss retro cover to Lloyd's syndicates
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Florida carrier United Insurance Holdings (UPC Insurance) has amended regulatory filings to lift the amount of capital it could raise through ad-hoc equity or debt issuances to $250mn
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Markel CatCo Investment Management has raised more than $1.8bn for its privately managed fund after the 2017 hurricane losses.
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Credit Suisse and Bermudian run-off specialist Armour Group have raised more than $270mn for a second series of their joint venture legacy ILS fund, regulatory filings show
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JLT Re North America CEO Ed Hochberg has said the scale of insured losses from Hurricane Maria could result in ILS investors changing their view of risk and return.
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Retrocession rates are expected to rise by 25 percent or more at the 1 January 2018 renewals after the extensive losses of this year, sources said.
