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Softer reinsurance pricing and subdued investment returns may start to see cracks emerging in certain hedge fund reinsurance (HFR) models, Standard & Poor's (S&P) said.
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Harrington Re, the joint venture between Axis Capital and Blackstone, has gained an A- rating from AM Best after completing a $600mn capital raise.
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Scott Maries has left Enstar and will join Validus, Trading Risk can reveal
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Paul Schultz, CEO of Aon Securities, was named the Outstanding Contributor of the Year at the 2016 Trading Risk awards in London last night (16 June)
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Hudson Structured Capital Management's new reinsurance and transport finance funds are up and running after securing a $250mn allocation from Blackstone, Trading Risk understands.
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Swiss Re has around $395mn of retro support from its Sector Re sidecar after the vehicle completed its main fundraising before the mid-year renewals, Trading Risk understands
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Start-up fronting carrier Spinnaker Insurance will enter the Louisiana market this autumn after setting up a marketing relationship with Acadian Managers.
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Hudson Structured Capital Management's new reinsurance and transport finance funds are now up and running after securing a $250mn allocation from Blackstone, Trading Risk understands.
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Alloy Re, the total return reinsurance start-up backed by XL Catlin and alternative fund manager Oaktree, has been axed after sums raised for the venture fell short of targets.
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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.
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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
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Harrington Re, the reinsurance start-up sponsored by Axis and Blackstone, envisages catastrophe risk will make up 5 percent of its underwriting portfolio when it launches in July.
