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SAC adds to property cat team
Hedge fund-backed start-up SAC Re has hired Tim Duffin from Bermudian reinsurer Platinum Underwriters to be the firm's deputy property cat underwriter alongside Kathleen Reardon, Trading Risk understands.
22 October 2012
Indemnity growth route challenged
The convergence market needs to strike a balance between catering to institutional investors seeking simple risk transfer structures and cedants wanting broader indemnity reinsurance coverage, according to Deutsche Bank director Michael Halsband.
19 October 2012
Reinsurers missing the mark on convergence targets
Reinsurers entering the convergence market to compete for fundraising alongside specialist ILS fund managers have still not developed a trader's mentality, Horseshoe Group CEO Andre Perez said at the annual Trading Risk New York Rendez-Vous held yesterday.
19 October 2012
Schultz: Convergence market needs to change to grow
Investors need to be more accepting of indemnity loss triggers and non-modelled perils if there is going to be significant growth in the convergence market in 2013, Aon Benfield Securities CEO Paul Schultz warned today.
18 October 2012
Citizens set to re-enter cat bond market for 2013
Florida's state-backed insurer Citizens is planning to re-enter the cat bond market in 2013 with an additional $250mn placement, after making its debut this year with the $750mn Everglades Re transaction
18 October 2012
Latest Queen St VII offering targets $75mn
Munich Re has brought out a new Queen Street VII Re offering that is almost an exact replica of Queen St VI Re, Trading Risk understands
17 October 2012
$75mn+ Mythen II the first bond to combine cat with mortality
The two bonds currently being marketed to prospective investors include an innovative transaction where mortality risk is combined with property catastrophe risk in a single tranche
17 October 2012
The Trading Floor Interview: Scott Belden
Earlier this year Travelers completed its third cat bond - and its first on an indemnity basis. Scott Belden tells Trading Risk that he is impressed by the ILS market's maturity, but that traditional partnerships are still at the heart of his reinsurance strategy
12 October 2012
Capital markets no price-cruncher
Capital market providers are largely creating new reinsurance demand rather than carving out capacity from the traditional market, Nephila Capital co-founder Frank Majors said at an ILS panel hosted by Munich Re at the Monte Carlo Rendez-Vous last month
12 October 2012
Cat pricing set to fall from historic highs
Absent a shock loss in the final months of the year, premium rates are expected to slide at the key 1 January renewal, when upwards of half of all property catastrophe reinsurance business renews, Trading Risk understands
12 October 2012
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