Trading Risk July 2017

The National Hurricane Center (NHC) warned that Tropical Storm Emily was expected to produce rainfall of 2 to 4 inches along the west coast of central Florida as it passes over the state this afternoon

Deutsche Bank's asset management division has closed down its $100mn ILS fund after just over two years in business, sources told Trading Risk

Alternative reinsurance growth; ILS rankings; Cyber loss potential; Egon loss estimates rise; Hannover Re fronting expansion; PIC reinsures £1bn longevity risk...

RenaissanceRe and Swiss Re remained the two biggest carriers on the $1bn reinsurance programme bought by the Florida Hurricane Catastrophe Fund (FHCF) in 2017.

Reinsurance and retro buyers obtained further rate reductions at the 1 July renewals, although Australian catastrophe losses led to isolated price increases.

European ILS sponsors and arrangers need to weigh up a number of considerations as they consider alternative collateral arrangements, write Robert Cannon and Matt Feig at Cadwalader.

PGGM has recruited Youssef Sfaif to join its ILS investment management team. He joins the firm from Scor, where he spent the past two years as an actuary.

Ascot Group has appointed former RenaissanceRe CEO Neill Currie as executive chairman, noting that he had a mandate to expand the company through organic growth, strategic investments and acquisitions.

Mayer Brown has recruited Jay Kallas to join its insurance industry group and corporate and securities practice as a counsel in the law firm's Chicago office.

Willis Re has confirmed that deputy global CEO James Kent will replace John Cavanagh as global CEO when he steps down later this year.

Markel Catco Investment Management CEO Tony Belisle has extended his contract with the company until 31 December 2020.

Artex has issued its second cat bond lite of the year on the Bermuda Stock Exchange, raising a total of $8.31mn.