Trading Risk July 2017

Axis Capital CEO Albert Benchimol said the carrier could look to share more property cat risk with third-party capital providers after its $604mn acquisition of Lloyd's insurer Novae

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.

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.

TransRe has promoted Kyle Rhodes to the new role of global head of business development, where he will offer clients assistance in accessing third party capital.

Former Aon Benfield retro broker Tom George is expected to join AlphaCat as an underwriter, sources told Trading Risk.

Twelve Capital's head of investment management John Butler has resigned from the company, sources said.

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

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.