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  • Alterra earned $30.3mn of net income from its New Point Re IV sidecar during 2012, which helped propel the reinsurer to a $143.8mn profit for the year.
  • The growth of the alternative reinsurance marketplace may be set to slow or plateau as some niches reach a "saturation point", according to Validus CEO Ed Noonan.
  • Bermudian ILS manager Nephila Capital is setting up a new £100mn Lloyd's syndicate to underwrite its county weighted industry loss (CWIL) products.
  • Emmanuel Durousseau has left Scor after one year at the helm of the reinsurer's new Atropos ILS fund, Trading Risk can reveal.
  • The two AlphaCat sidecars run by reinsurer Validus reported $32.5mn of losses relating to Hurricane Sandy in the fourth quarter, however the vehicles were still profitable over the full year.
  • Bermudian ILS manager Pillar Capital Management has lost its new CEO Chris McKeown after just eight months.
  • Rob Bentley, the chief operating officer (COO) at Risk Management Solutions (RMS), left his post at the end of last year, sister publication The Insurance Insider revealed
  • ILS investors are likely to be anxiously awaiting new cat bond issuances after a disappointing December pipeline, according to Willis Capital Markets & Advisory's (WCMA) head of ILS Bill Dubinsky.
  • Validus has sued the US government after it was made to pay excise tax on retrocession cover that it argues should not be subject to US taxation, a court filing shows.
  • The ILS investor base took a more generalist slant in 2012 as money managers and pension funds increased their share of investment in new cat bond issuance, Swiss Re Capital Markets has said in its annual review of the market.