Trading Risk July 2017
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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
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Scor and PartnerRe have each let a reinsurance sidecar lapse in 2017 after deciding that they no longer needed retrocession cover in this format, Trading Risk understands
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The ILS market has well and truly put its foot on the accelerator this year - with cat bond volumes setting new records and ILS managers competing hard in Florida
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Regulators have made some easy-win concessions in the final version of London's ILS framework to ensure that the system is workable for ILS managers
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Nephila Capital has agreed a deal with a major US insurer to assume coastal exposure, broadening its access to primary risk, sister publication The Insurance Insider reported
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Brian Ingle will lead the analytics team for Willis Re North America following Alice Underwood's appointment as head of risk consulting and software.
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William Mulcahy, an actuary who has previously worked at ILS Capital Management, Securis and Ariel Re, is expected to join Qatar Re later this year, sources said.
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Neon confirmed that it had hired Mark Gibson as reinsurance and alternative capital director as it prepares to develop a third party capital strategy, in a move first reported by Trading Risk.
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Markel Catco Investment Management CEO Tony Belisle has extended his contract with the company until 31 December 2020.
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Bermudian (re)insurers shifting their focus to the insurance markets will benefit from less volatility but will also make less margin, according to recent analysis from Fitch Ratings.
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The top 10 ILS managers lifted their assets under management (AuM) by 8 percent in the first half of 2017, taking the group's collective capital base to $56.5bn, according to Trading Risk records
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The cat bond market was firmly in the hands of sponsors in the second quarter, with volumes setting a record in a frenetic period that pushed ILS pricing to new lows
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The Oregon Public Employees Retirement Fund (OPERF) reported a $145.1mn holding in two Nephila funds as at year-end 2016
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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.
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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.
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Guy Carpenter has appointed Tom Hettinger to lead its capital, structured risk, growth and rating agency operations in the US and Canada.
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Average returns posted by a group of cat bond funds came to 0.68 percent in the second quarter of 2017, taking year-to-date gains to 1.36 percent
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The World Bank, UK and Germany pledged resources to help expand disaster insurance cover in developing countries at the Global Insurance Forum in July
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The UK Treasury's final version of regulations that will establish a framework for local ILS issuance have gone some way to addressing industry concerns
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Florida Citizens bought more collateralised reinsurance for the current hurricane season than it had in 2016, after lifting the size of its traditional programme by more than 50 percent.
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Reinsurance and retro buyers obtained further rate reductions at the 1 July renewals, although Australian catastrophe losses led to isolated price increases.
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Artex has issued its second cat bond lite of the year on the Bermuda Stock Exchange, raising a total of $8.31mn.
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Deutsche Bank's asset management division has closed down its $100mn ILS fund after just over two years in business, sources told Trading Risk
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The ILS portfolio managed by Swedish state pension fund AP3 grew by more than 40 percent in the second half of 2016, according to its most recent report