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Jobs Act adoption clears way for wider advertising of ILS placements and funds
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.
16 July 2013
Third Point Re prepares for New York IPO
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).
16 July 2013
DCG Iris adds £1.2mn
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.
15 July 2013
Cheaper ILS pricing will persist, says Aon Benfield
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.
15 July 2013
New York MTA offers $125mn MetroCat Re storm surge cat bond
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.
12 July 2013
Moving beyond models
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
Claire Souch
,
12 July 2013
Ibis helps lift Assurant’s capital market cover
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
12 July 2013
Suncorp obtains 5% reduction on $5bn treaty
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
12 July 2013
PCS and AIR Worldwide sued over $100mn Mariah Re cat bond payout
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.
12 July 2013
Floods mark 2013 cat losses
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
12 July 2013
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