AIG is planning to reduce its retentions on its catastrophe reinsurance treaties next year after this year's cover failed to trigger despite the carrier taking $3bn hurricane losses in Q3.
The Insurance Council of Australia (ICA) said that insurance losses for damage arising from Cyclone Debbie have moved up to A$1.57bn ($1.2bn), as A$89mn of further claims have been lodged in recent months.
The Oregon Public Employees Retirement Fund (OPERF) reported that its holdings in two Nephila funds had increased by 0.8 percent in the first half of 2017 to reach $146.2mn at 30 June 2017.
USAA's Residential Re 2017-2 cat bond, one the first to be launched after the Q3 losses, has grown by almost a third over the course of marketing and is set to close at $295mn, Trading Risk understands.
