Guy Carpenter

Hiscox sold the parametric cyber cover to an as-yet-undisclosed buyer.

Recent disasters have tested the idea of catastrophe risk as a short-tail risk.

A busier cat bond market is expected while a loss of investor confidence is squeezing the collateralised and sidecar markets, said managing director of GC Securities Des Potter.

The firm also added former Aon brokers Robert Johnston and Peter Komposch to the Bermuda office amid the reshuffle.

Cerulean Re has now transacted deals totalling $167.9mn this year.

The potential for insured catastrophe losses has increased at an “exponential” rate since the 1970s, the broker said in a report.

GC Securities president Shiv Kumar urges more evolution as he says ILS capital can make more use of rated paper partnerships.

Some 15 percent of cat bonds on risk will mature in Q2 next year.

David Priebe has been promoted from the role of vice chairman.

The NHC has warned that the hurricane will move “dangerously close” to the coasts of Florida, Georgia and South Carolina in the coming days.

Trading Risk looks at the dominant themes that the ILS market will be discussing at the 63rd Monte Carlo Reinsurance Rendez-Vous in September.

The law creating the $21bn fund to be administered by the California Earthquake Authority was passed in July.