Swiss Re Capital Markets has structured the issuance of a $350mn ILS transaction on behalf of the US insurer Frontline, highlighting the continuing appetite of capital markets investors to support cat risk securitisations.
US insurance giant Liberty Mutual’s Bermuda-based sidecar Limestone Re has bolstered its collateral by $278mn after a new private placement.
JLT’s alternative capital business has completed a $453mn catastrophe bond transaction.
The expansion of alternative risk capital beyond its property cat reinsurance heartland and into new classes of business is at the heart of a new MMC initiative aiming to draw together experts from its retail broking powerhouse, Marsh, and its reinsurance sister organisation, Guy Carpenter.
Credit Suisse, one of the industry’s two largest ILS fund managers, has launched a Bermudian reinsurer Bernina Re which will act as a transformer vehicle for many of its ILS transactions.
Blue-chip reinsurance fund manager Aeolus is not the alternative market that shared the placement with Swiss Re on US mutual Nationwide’s top $250mn layer that renewed at 1.6.
ILS fund manager Leadenhall Capital Partners has seen its new “remote risk” fund almost treble in size to $60mn while its overall assets under management expand to a record $5bn, re-Insurance.com can reveal.
London-based ILS fund manager Leadenhall Capital Partners has grown its assets under management to exceed $5bn in the first half of the year.
Guy Carpenter has recruited Goldman Sachs’ executive Shiv Kumar as the new president and global leader of its GC Securities Capital Markets unit.
Fidelis has launched a $50mn ILS sidecar based in Bermuda to provide collateralised capacity support for the carrier’s reinsurance book.
Lloyd’s broker AFL has hired big data specialist James Poole to head up its new ILS advisory business Agile Risk Advisory, the company announced today (4 June).
French carrier Scor has sponsored a new $300mn catastrophe bond in one of the first transactions under the UK’s new regime aimed at attracting ILS capital to the country.
Despite a double-dip of falling cat reinsurance rates in the Sunshine State and last year’s circa $140bn of losses, pricing on Florida’s cat programmes is typically only expected to inch up by a few percentage points at the key renewal later this week.