February 2015/1

Willis Re managing director Linley Ah-Chung is set to move back to Aon Benfield

Michael Millette is to leave Goldman Sachs in early March, after 20 years with the investment bank

In the landscape of insurance risk transfer, US inland flood risk has been underrepresented

With the convergence market estimated to have grown by one-third to $60bn in 2014, the number of investors attracted to various ILS structures from within the European Union (EU) has also increased

Travelers expands cat cover; PCS initiative; 2014 cat losses up; SEC eyes liquid alts; Catlin investors increase support...

Nephila Capital was the only collateralised market provider to appear on the reinsurance panel for recent Florida start-up Mount Beacon, according to information listed on the company's website.

Participants in the Florida reinsurance market are expecting some $800mn-$1bn of new demand to emerge from expansive take-out companies in the 1 June renewals this year.

Japanese trade union mutual insurer Saikyosairen is thought to have bought additional top-layer cover as it renewed its major property catastrophe reinsurance programme ahead of the April renewals

Europe's 20 largest cedants passed on EUR39.2bn of non-life reinsurance premium in 2013, a year-on-year decline of 8 percent

West Virginia reports gain; Swisscanto buys into ILS; ILS Advisers index dips in 2014

Reinsurance brokers and carriers fear that the recent flurry of M&A activity in the sector may depress demand for cover.

Florida-based managing general agency (MGA) New Paradigm Underwriters has begun writing parametric hurricane (re)insurance on Allianz paper, Trading Risk can reveal.

AQR Re shifted more of its assets under management to its newer, higher risk-return fund in 2014.

Several carriers have reported a reduction in their 2014 gross property catastrophe premiums as they scaled back in response to softening rates

Reinsurance carriers are increasingly emphasising the importance of scale, as XL-Catlin and PartnerRe-Axis have unveiled merger plans that will propel them into the top 10 and top five respectively by premium base

Kane lite platform goes electronic; Micrix index gains 12% in 2014; World Bank pandemic facility; Longevity platforms

High-yielding cat bonds have made up two-thirds of the trades on the secondary market in the first six weeks of 2015, according to information recorded by Finra's Trace system.

More pension schemes will approach the longevity swap market in 2015, with deals worth more than £20bn already in the pipeline, according to Aon Hewitt senior partner and head of risk settlement Martin Bird.

Two higher-risk deals from Scor and Catlin have taken total 2015 catastrophe bond volume to $824mn, in a more controlled start to the year than in 2014.

Credit Suisse Asset Management (CSAM)'s head of ILS Niklaus Hilti said that the company's new rated entity Kelvin Re will be the first low-cost "Easyjet Re" carrier of the reinsurance industry.

ILS fund managers have often critiqued the reinsurance industry's cost base, so it's not surprising to hear them borrowing comparisons from the aviation market to illustrate their value proposition.

Hannover Re has expanded its K quota share retro sidecar by 25 percent for 2015, the company told Trading Risk.

ABR Re, the new joint venture from Ace and BlackRock, is currently fundraising for $1bn-$1.5bn but will not immediately seek an AM Best rating, Trading Risk has learned.