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  • I learned a new word of jargon this week reading about the RMS(one) platform - apparently ecosystems can be technological these days and not just environmental.
  • Dedicated cat funds are continuing to reduce their participation in new ILS issuance this year, according to statistics obtained by Trading Risk.
  • Non-traditional reinsurers are looking to grow their role in Florida this year as local insurers are opening up to the idea of issuing cat bonds, while collateralised reinsurance writers look to grow their business in the state.
  • White Mountains' reinsurance arm Sirius International has launched a new capital markets division co-headed by former Deutsche Bank executive Michael Halsband.
  • Louisiana Citizens Property Insurance is hoping to add another $60mn of traditional reinsurance limit to its 2013 programme after buying its new $140mn Pelican Re cat bond, Trading Risk understands
  • AQR Re has hired two new executives to expand its presence in Bermuda, former Renaissance Re executive John Lummis as CEO and ex-Aon Benfield broker Paul Karon as vice chairman
  • Florida Municipal Insurance Trust (FMIT) has closed its first cat bond in a $20mn private deal brokered by Towers Watson Capital Markets (TWCM).
  • AQR Re has hired two new executives to expand its presence in Bermuda, former Renaissance Re executive John Lummis as CEO and ex-Aon Benfield broker Paul Karon as vice chairman.
  • Military mutual insurer and ILS stalwart USAA is seeking $250mn of cover from its 20th cat bond, Residential Re (2013-1), Trading Risk understands.
  • Cat bond pricing has dropped by an average of 37 percent year-on-year for transactions completed in the last eight weeks, according to Bryon Ehrhart, chairman of Aon Benfield's investment banking group and chief strategy officer.