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Elementum adds to team
Chicago-based ILS fund manager Elementum Advisors has signed up two executives to new roles which the firm says will significantly strengthen the depth of its legal and operational infrastructure.
20 August 2012
Citizens argues travel costs reap reinsurance savings
Florida state insurer Citizens Property Insurance estimates that it saved nearly $50mn and gained "staggering" benefits on its 2012 reinsurance spend as it came out fighting to defend its spending on travel.
20 August 2012
Third Point Re targets third party funds for property cat vehicle
Third Point Re hopes to launch its planned property cat sidecar ahead of the 1 January renewals next year as it prepares to seek third party capital for the off-balance sheet vehicle, sister publication The Insurance Insider reported today.
20 August 2012
Catco gains 5.3% over first half
London-listed collateralised retrocessionaire Catco has reported a 5.3 percent increase in net asset value to $357.9mn for the first half of the year as investment gains on its 2012 portfolio offset loss creep from 2011 catastrophes.
16 August 2012
Unrated Combine Re layer intact after downgrade
The $50mn unrated class C tranche of multi-peril cat bond Combine Re has not been triggered by cedant Country Mutual Insurance Company's US thunderstorm losses, sources have confirmed.
14 August 2012
Third Point Re hires more catastrophe execs
Retrocession underwriter Bryan Bumsted has joined Bermudian start-up Third Point Re to drive underwriting at the reinsurer's property catastrophe unit, which is expected to write business off balance sheet
14 August 2012
NOAA raises 2012 hurricane watch
The National Oceanic and Atmospheric Administration (NOAA) has raised its prediction for 2012 storms despite the expected transition to El Niño weather patterns, which tend to lower hurricane activity
14 August 2012
Moody’s downgrades Combine Re tranche on US storm losses
Moody's has cut the rating on a $50mn tranche of the Combine Re cat bond by a notch from Ba3 down to B1, due to thunderstorm losses incurred by cedant Country Mutual Insurance Company
14 August 2012
RenRe writes $38mn in Tim Re sidecar at mid-year renewals
Bermudian reinsurer RenaissanceRe wrote $37.7mn of gross premiums from its Timicuan Re III sidecar in the June renewals, despite cat pricing coming in lower than expected
01 August 2012
Greenlight Re reports Q2 loss on investment drag
Greenlight Capital Re reported a net loss of $36.1mn for the three months to 30 June as investment losses eroded some of the company's first-half profit.
31 July 2012
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