Trading Risk June 2017

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.

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.

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.

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.

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.

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.

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.

Legal & General has hired Pretty Sagoo from Deutsche Bank as head of strategic business in its pension risk transfer team.

JLT Re has appointed John Paulsen as senior vice president in Chicago with a remit to expand the company's business in the Midwest.

Drinker Biddle & Reath has hired John Finston to join the insurance regulatory and transactional team in the firm's San Francisco office.

Scor has appointed Wolfgang Murmann to the new role of head of longevity for Europe (excluding the UK), the Middle East and Africa.

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.