Trading Risk June 2017
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Swiss Re has bolstered its retro support from the Sector Re sidecar by around $100mn in the past year to take the vehicle's total capacity to $492mn, Trading Risk understands.
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Despite a softer-than-expected 1 June Florida renewal, hedging activity in the industry loss warranty (ILW) market has been slow, with buyers holding back amid a glut of capacity, sources said.
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Leadenhall Capital Partners is a key investor in start-up Gryphon Group Holdings, which plans to take a technology-focused approach to delivering life insurance products.
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Switzerland-based asset manager Plenum has discontinued its partnership with Sequant after marketing a new non-catastrophe ILS fund with the Bermuda asset manager last year, Trading Risk can report.
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The final version of the Insurance Open Protocol has cut back the frequency of reporting it requires from ILS managers in response to feedback received during the consultation period.
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The main factors in this year's "double-dip" Florida reinsurance renewal were abundant supply, reduced demand from several key buyers and uncertainty over model changes.
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Forecasters are predicting an average to above-average 2017 Atlantic hurricane season, as debate continues over whether a longer-term shift to a phase of reduced activity is underway.
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Legal & General has hired Pretty Sagoo from Deutsche Bank as head of strategic business in its pension risk transfer team.
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JLT Re has appointed John Paulsen as senior vice president in Chicago with a remit to expand the company's business in the Midwest.
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Drinker Biddle & Reath has hired John Finston to join the insurance regulatory and transactional team in the firm's San Francisco office.
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Scor has appointed Wolfgang Murmann to the new role of head of longevity for Europe (excluding the UK), the Middle East and Africa.
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Jason Carne, the former ILS practice leader at KPMG Bermuda, has joined Hudson Structured Capital Management as an adviser, focusing on providing guidance on valuations and reinsurance.