Trading Risk September 2017

Schroders-owned ILS manager Secquaero has won a significant $200mn+ mandate, according to sources, as a number of companies target growth in this sector.

Cat bond broker-dealers said the market had plenty of impetus left after a record-breaking first half of 2017.

Hurricane Harvey will impact reinsurer earnings but is unlikely to spur a reversal in softening pricing, analysts said.

Taking on new perils may help ILS markets to compete outside the US, says the Generali executive.

Hurricane Harvey had much less of an impact on the cat bond market than last year's Matthew, but its quick intensification also left less time for livecat traders to manoeuvre ahead of the event.

This is certainly not going to be a year where the reinsurance industry is twiddling its thumbs at the annual Monte Carlo Rendez-Vous.

JLT Re has appointed Nicolas Bardon as a partner in its Bermuda operation, reporting to head of office Guy Hengesbaugh.

The $430mn Spectrum Re cat bond issued in June this year by fronting carrier Tokio Millennium Re was ultimately for the benefit of Credit Suisse's ILS entities, sources told Trading Risk.

Chaucer is working to establish a new sidecar for 2018 as other Lloyd's (re)insurers consider new third-party capital vehicles, sources said.

The major continental carriers and dominant catastrophe writers are likely to be among the key reinsurers of the regional and specialist insurers exposed to Hurricane Harvey claims.

Average ILS fund returns reached 2.23 percent by the end of July, according to the Eurekahedge ILS Advisers Index.

The Prudential Regulation Authority (PRA) is due to issue rules based on its interpretation of the UK's recently published ILS regulations at the end of this month or in early October.