Trading Risk March 2018

The cat bond market has gained some much-needed diversification following the launch of three Japanese deals, including a $700mn transaction.

Nationwide Mutual and Heritage Insurance Holdings each expect to recover more than $100mn from cat bonds, Trading Risk reported this month.

Dutch insurer Aegon has hired Kirsten van Exel as a senior ILS underwriter, as it seeks to build its ILS portfolio.

Axa's plans to significantly expand its risk transfer to reinsurers and capital market partners after its $15.3bn acquisition of XL are a positive sign for the ILS sector amid another expected wave of (re)insurance consolidation.

Several Floridian insurers are looking to lower their reliance on the state-backed reinsurance fund in 2018, bringing a small amount of new demand into the market.

Allied World lifts commitment to Aeolus; Blackstone keeps cat bond portfolio stable; Twelve issues second Dodeka; TransRe builds on Pangaea; Kinesis draw-down; Axis Ventures raises $50mn