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  • Lloyd's insurer Amlin is seeking to raise $75mn in US quake reinsurance cover from its second cat bond Tramline Re II, Trading Risk understands.
  • Gen Re chairman and CEO Tad Montross said that ILS investors need to question the idea that the asset class provides non-correlating returns, speaking at a Standard & Poor's insurance conference in New York yesterday.
  • Deutsche Bank is set to enter the ILS management sphere with a $100mn fund to be led by managing director Michael Amori, who has previously worked in the bank's longevity markets group, Trading Risk understands.
  • Axis Capital has hired Ben Rubin from Bank of America Merrill Lynch to take the new position of executive vice president, capital markets, as the Bermudian looks to become the latest (re)insurer to build out a third party capital management business.
  • Lancashire has hired Mathieu Marsan as portfolio manager and actuary for its new operating unit, Lancashire Capital Management.
  • A surge in alternative market reinsurance capacity is likely to drive downward pressure on property catastrophe pricing throughout the rest of 2013 after reshaping the Florida market in the 1 June renewals, Guy Carpenter said in its report on the renewal period.
  • Steven Cohen's hedge fund SAC Capital could face investor withdrawals of up to $3.5bn, or more than half the $6.75bn third-party capital it manages, according to reports.
  • Cat modelling firm Eqecat is in talks with AIR Worldwide to enter into a data sharing agreement following the completion of a similar deal with RMS.
  • ILS funds tracked by the Eurekahedge ILS Advisers Index posted an average return of 0.83 percent in April
  • Bermudian start-up Third Point Re has hired Nick Zagoreos to head up business development in the firm's investment management division.