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London-listed ILS fund DCG Iris reported a total return of 2.2 percent in the six months to 30 November 2013, as the fund's manager said that it had boosted results by shifting into private reinsurance deals and reducing its cat bond holdings.
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Blue Capital Re, the New York-listed fund run by Montpelier Re, deployed $143mn of the $174mn net proceeds that it raised last November during the January reinsurance renewals, according to Securities and Exchange Commission filings.
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The EUR40mn Windmill I Re private cat bond issued by Achmea Reinsurance Company was the first indemnity ILS deal for a European sponsor and provided the company with very efficient terms of cover, Achmea chairman Roelant de Haas said in a statement today (22 January).
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Falcon Private Bank has launched a new higher-risk ILS fund that will be offered in UCITS format, a structure that offers investors frequent opportunities to redeem their funds.
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Tokio Millennium Re has sponsored its first private cat bond through the issuance platform launched last year by its subsidiary Tokio Solution and GC Securities.
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The convergence market contributed $10bn of growth to the reinsurance industry's capital base in 2013, Guy Carpenter estimates.
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New sidecar launches continued in early 2014 following a prolific round of 2013 activity, as P&C (re)insurers formed a total of nine known vehicles with just under $2bn of capital.
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Bermuda has welcomed another hedge fund-backed reinsurer with the launch of Watford Re, a new multi-line company set up by Arch Capital in partnership with Highbridge Capital Management.
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Centrum seeks ILS decoupling; Plenum leverages; Credit Suisse caution; Stone Ridge gains; Cat bond lite focus
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The group of pure cat bond funds tracked by Trading Risk have generated an average 2013 return broadly in line with 2012, as the effect of tightening spreads on new issuance was tempered by a benign loss year and rising mark-to-market gains on historic bonds.
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Deutsche Bank has traded with an ILS fund for the first transaction that uses its Longevity Experience Option (LEO), a template for longevity options launched in November, Trading Risk can reveal.
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Collateralised retro provider Catco has shifted its risk profile down for 2014 in response to changing market conditions that have led to decreased demand from some buyers.
