Trading Risk November 2017

Fermat Capital Management has appointed Joanna Syroka from the African Risk Capacity (ARC) as its new director of business development

Former Hiscox Re executive Michael Jedraszak and ex-RenaissanceRe portfolio manager Kai Morgenstern have co-founded a new business, Tangency Capital, together with Dominik Hagedorn

Horseshoe Group has promoted Yulanda Francis to president of the firm's collateralised reinsurance platform Horseshoe Re

Swiss Re has hired Weilong Su to join the ILS trading team, according to Trading Risk sources

Aaron Garcia has joined Hiscox Re's ILS team in the role of ILS portfolio manager in Bermuda

Chandler CEO Steven Butler and senior administrator Beverly Hodkin are to join Artex Risk Solutions' existing captive and insurance management team in the Cayman Islands following Artex's acquisition of the company

Brad Livingston has joined Axis Capital as a vice president after four years at Willis Towers Watson, where he was a vice president in the ILS team

Jo Stanton, former CFO at AlphaCat based in Bermuda, left the firm in September, according to her LinkedIn profile

John Butler, former head of investment management at Twelve Capital, joined the financial services firm Cohen & Company Financial as of 1 November to develop a US insurance asset management strategy and a global ILS platform

Third quarter catastrophe losses represented a 7 to 14 percent hit to the shareholders' equity of global reinsurers, with major catastrophe writers such as Everest Re, Lloyd's of London, Lancashire and RenaissanceRe the most severely affected

A rating correction is widely expected in 2018 after reinsurers said they would push for increases in response to catastrophe losses that have highlighted their softer margins

Four of the listed Florida insurers have ceded more than $1.2bn of third quarter catastrophe claims to their reinsurers, based on estimates from their quarterly disclosures