Aetna Life Insurance's $200mn Vitality Re IX cat bond has priced at a record low with both tranches of the deal settling below the initial guidance, according to sources
Travelers reported lower than anticipated catastrophe losses in the fourth quarter as it was able to release $157mn of pre-tax reserves related to the third quarter hurricanes.
Axis said it would combine its ceded reinsurance operations and third party capital business into a single department as it announced a broader restructure.
AIG's massive balance sheet could be an advantage to AlphaCat in giving it the leverage to target the insurance market, which few ILS funds have yet attempted on a significant scale.
