Trading Risk May 2017

There has already been more cat bond reinsurance cover raised in the second quarter to date than in the full first quarter after an exceptionally busy April.

As 1 June Florida renewal negotiations come to a head in the next fortnight, there are a number of dominant themes influencing discussions.

Severe weather in the US in April led to insured losses of more than $970mn, according to a report from Impact Forecasting

Back in 2013-2014 when the cat bond market was last booming the way it is right now, the boisterous volumes of issuance prompted a bit of philosophising over whether ILS rates had "decoupled" from the traditional market.

Martin Reith's Neon is working on establishing an ILS fund that would see the revamped Lloyd's business bring in third party capital to support its nascent property catastrophe reinsurance book, Trading Risk can reveal.

The ILS sector is continuing to attract new investors with recent cat bond fund launches from two asset managers, Trading Risk understands.

The Texas Windstorm Insurance Association (Twia) has reduced its catastrophe reinsurance in advance of this year's hurricane season, according to sister publication The Insurance Insider

Markel Catco has closed the majority of its side pocket investments related to the 2015 Pemex oil rig fire and explosion after redeeming the side-pocketed shares.