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  • Lloyd's carrier Brit says it may seek opportunities in the convergence market through its newly launched branch office in Bermuda.
  • French reinsurer Scor has recently launched its second Atropos ILS fund and is set to add a third to its line-up, Trading Risk understands.
  • Shareholders in listed ILS fund DCG Iris have unanimously voted for the continuation of the company, which will trigger an additional share placement in the coming weeks, according to a stock exchange announcement.
  • Scor said at an investor day this week that it planned to increase its capacity for cat risk while altering its retrocession programme in favour of greater quota-share cover to protect earnings.
  • Lloyd's of London chairman John Nelson has warned that the influx of alternative capital could cause systemic problems in the insurance industry similar to those in the banking sector which sparked the financial crisis.
  • The rise of broker placement facilities could lead to further opportunities for alternative forms of capital entering the reinsurance market, AM Best said.
  • Former Imagine Group executive Bob Forness has been appointed CEO and chairman of Bermuda-based Multi-Strat Re, a platform set up to help hedge funds tap into the reinsurance space.
  • The ILS market has benefited from a light regulatory touch that has helped it to post significant growth, Hiscox CEO Bronek Masojada said at The Insurance Insider's Pre-Monte Carlo Rendez-Vous briefing today, but he questioned whether this era of simplified regulation would last.
  • Capital market capacity deployed in the reinsurance sector could rise from $50bn currently to $150bn by 2020, Willis Capital Markets & Advisory (WCMA) CEO Tony Ursano forecast.
  • Scor has retracted a tranche of its extreme mortality cat bond Atlas IX and increased the target size of a riskier tranche in the last stages of the marketing process, Trading Risk understands.