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  • Aon Benfield predicts that over time less reinsurance business will be written on rated balance sheets and more through ‘satellite' structures backed by third party capital.
  • Munich Re has agreed to buy Bermudian reinsurer RenaissanceRe's weather risk trading unit for an undisclosed sum, the company announced today (3 September).
  • Scor is set to increase the size of its new extreme mortality cat bond to $175mn from a $125mn target, Trading Risk understands.
  • Managing general agency (MGA) Pioneer Underwriting has recruited former Hardy Underwriting executive David Carson to lead a new property catastrophe reinsurance division that is backed by institutional investors in the US.
  • Investors in the listed ILS fund DCG Iris have opted to hold onto their shares in the company ahead of a 5 September vote to continue the company, according to a stock exchange announcement this morning.
  • Japanese mutual Zenkyoren is set to double its Nakama Re cat bond to $300mn as pricing settled in the middle of the marketed range, Trading Risk understands.
  • AM Best placed SAC Re's ratings on review with negative implications after it emerged that the Bermudian reinsurer's backer SAC Capital Advisors is facing criminal charges in the US
  • New fund inflows top $2.5bn in Q2; Blackstone picks Nephila; TWIA behind Kane's debut cat bond; Sale process continues at Towers Watson
  • Switzerland-based ILS fund manager Twelve Capital has completed what it believes is the first collateralised participation on a terrorism excess-of-loss retrocession programme
  • Switzerland-based ILS fund manager Solidum Partners has expanded its private cat bond portfolio for 2013, transforming regional US hurricane risk into $71.45mn of securities in three separate deals, Trading Risk can reveal