Trading Risk July 2017

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.

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.

Guy Carpenter said it hoped to expand the retrocession and ILS capacity in the Asia Pacific region as it opened a new retro unit led by Simon Hughes.

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

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

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

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

The Oregon Public Employees Retirement Fund (OPERF) reported a $145.1mn holding in two Nephila funds as at year-end 2016

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.

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.

Guy Carpenter has appointed Tom Hettinger to lead its capital, structured risk, growth and rating agency operations in the US and Canada.