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With a strong showing at the mid-year renewals, the convergence sector now has a 14 percent market share of global cat reinsurance limit placed - signifying a watershed in its development, according to Guy Carpenter vice chairman David Priebe.
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Capital market investors provide about 10-15 percent of the $220bn-$250bn of global catastrophe reinsurance capacity, according to estimates from brokers and bankers.
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RenaissanceRe's temporary retro sidecar Upsilon Re is likely to continue writing business into 2013 after launching at the start of this year, the property cat specialist said.
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Leadenhall Capital Partners has hired Simon Mason as an analyst to help with portfolio management and risk management.
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Greenlight: new entrants hinder market; Farmers renews contingent capital deal
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An ILS fund is one of the partners behind Bermudian reinsurer Montpelier Re's growing stable of private sidecars, Trading Risk understands
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Dexion Capital will seek to raise £100mn-£150mn from the IPO of its new London-listed ILS fund DCG Iris, the company told Trading Risk.
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$30mn of hurricane options have traded on the Chicago Mercantile Exchange (CME) in the largest single order since 2009, taking the value of deals traded on the exchange this year to $45mn.
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ILS traders are blaming strong primary issuance levels, seasonality and an increasingly US-wind exposed market for continued declines on the secondary cat bond market ahead of hurricane season.
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Chris McKeown, the former head of hedge fund-backed New Castle and CIG Re, is returning to the convergence market as CEO at Bermudian fund manager Juniperus, Trading Risk understands.
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Leading ILS fund manager Fermat Capital has launched a new Australian cat bond fund seeded with an investment from local superannuation fund NGS Super
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London-based ILS fund manager Leadenhall Capital Partners has taken in another $65mn into its funds, taking its assets under management above the $650mn mark, the company said in a statement today.
