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  • The US Securities and Exchange Commission (SEC) has approved a provision in the Jobs Act that lifts the ban on advertising for certain private placement offerings.
  • Bermudian start-up reinsurer Third Point Re has unveiled plans to float on the New York Stock Exchange, with the proceeds earmarked to drive growth in its underwriting business, the company said late on Monday (15 July).
  • Listed ILS fund DCG Iris has added another £1.176mn through a follow-on share issuance to take the fund's total capital base to £61.46mn.
  • ILS spreads had fallen 40 percent by mid-year since the 2012 June and July renewals and macroeconomic dynamics indicate the new price points will persist, Aon Benfield said in its report on the renewal period.
  • The New York Metropolitan Transportation Authority (MTA) is seeking to raise $125mn from Metrocat Re in what would be the first cat bond to cover storm surge, Trading Risk understands.
  • Claire Souch, vice president of Model Solutions at RMS, explains the vision behind the RMS(one) platform and what changes the company believes it can make to ILS fund managers and reinsurer underwriting teams
  • Assurant sourced a fifth of its per-event reinsurance programme from the capital markets as it expanded the cover by 20 percent at the 1 July renewals
  • Australian insurer Suncorp renewed its $5bn catastrophe reinsurance treaty at a risk-adjusted rate reduction of around 5 percent, sister publication The Insurance Insider reported
  • The liquidators of tornado cat bond Mariah Re have sued sponsor American Family Mutual Insurance and service companies PCS and AIR Worldwide, claiming that the trio conspired to bring about a $100mn payout of the bond based on a falsified loss report.
  • Natural catastrophe events caused some $13bn of insured losses in the first half of 2013, just over half the 10-year H1 average of $22bn, according to new Munich Re NatCat estimates