Trading Risk July 2017

Florida Citizens bought more collateralised reinsurance for the current hurricane season than it had in 2016, after lifting the size of its traditional programme by more than 50 percent.

Bermudian (re)insurers shifting their focus to the insurance markets will benefit from less volatility but will also make less margin, according to recent analysis from Fitch Ratings.

Artex has issued its second cat bond lite of the year on the Bermuda Stock Exchange, raising a total of $8.31mn.

RenaissanceRe and Swiss Re remained the two biggest carriers on the $1bn reinsurance programme bought by the Florida Hurricane Catastrophe Fund (FHCF) in 2017.

PGGM has recruited Youssef Sfaif to join its ILS investment management team. He joins the firm from Scor, where he spent the past two years as an actuary.

The cat bond market was firmly in the hands of sponsors in the second quarter, with volumes setting a record in a frenetic period that pushed ILS pricing to new lows

Regulators have made some easy-win concessions in the final version of London's ILS framework to ensure that the system is workable for ILS managers

European ILS sponsors and arrangers need to weigh up a number of considerations as they consider alternative collateral arrangements, write Robert Cannon and Matt Feig at Cadwalader.

The ILS portfolio managed by Swedish state pension fund AP3 grew by more than 40 percent in the second half of 2016, according to its most recent report

The UK Treasury's final version of regulations that will establish a framework for local ILS issuance have gone some way to addressing industry concerns

The ILS market has well and truly put its foot on the accelerator this year - with cat bond volumes setting new records and ILS managers competing hard in Florida

William Mulcahy, an actuary who has previously worked at ILS Capital Management, Securis and Ariel Re, is expected to join Qatar Re later this year, sources said.