Trading Risk June 2018

The average gain across a group of sidecars that remained on risk in the three months to 31 January came to 3.2 percent.

Hatteras Funds, a North Carolina-based alternative asset manager, has launched the fifth new ILS strategy this year and joins a trend of more feeder funds being set up in the asset class.

There has been a downturn in the number of Florida-only cat bonds in the second quarter of this year, with only two Sunshine State deals compared to the five issued last year, as local sponsors expanded the scope of their cover.

Senior Scor executive Paul Hertelendy is expected to take up a new role at Credit Suisse’s insurance-linked strategies team, Trading Risk can reveal.

Hurricane Irma led to a sharp increase in lawsuits against Florida insurers in Q1 2018 compared with the same period last year, according to the Sun Sentinel.

Leadenhall Capital Partners has won a mandate to invest £80mn ($106.8mn) for the North Yorkshire Pension Fund.

The Bermuda-listed vehicle was established with $45mn raised from investors, with the remaining $5mn coming from the insurer itself.

London-based start-up Akinova is developing an electronic trading platform for (re)insurance risk and is planning to start with listing a version of an industry loss warranty (ILWs) called an “AELO” – an Akinova Event Linked Option.