Trading Risk June 2017
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Swiss Re has bolstered its retro support from the Sector Re sidecar by around $100mn in the past year to take the vehicle's total capacity to $492mn, Trading Risk understands.
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Four recent private and cat bond lite deals cleared during the mid-year renewals.
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Newly issued cat bonds, including the latest Alamo Re and Citrus Re 2017-1, have already traded above par on the secondary market, in a sign of strong ILS demand.
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LGT ILS funds; Wilton Re buys Aegon US run-off businesses; Cat bond funds reopen
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Larger residual insurers were among cedants that prospered in the June renewals from competition for US property catastrophe reinsurance business.
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Scor has appointed Wolfgang Murmann to the new role of head of longevity for Europe (excluding the UK), the Middle East and Africa.
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Jason Carne, the former ILS practice leader at KPMG Bermuda, has joined Hudson Structured Capital Management as an adviser, focusing on providing guidance on valuations and reinsurance.
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JLT Re has appointed John Paulsen as senior vice president in Chicago with a remit to expand the company's business in the Midwest.
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Global Parametrics, which offers risk transfer solutions for low- and middle-income countries, has appointed Nina Shapiro as chairperson.
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Despite a softer-than-expected 1 June Florida renewal, hedging activity in the industry loss warranty (ILW) market has been slow, with buyers holding back amid a glut of capacity, sources said.
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A significant drop in social and healthcare spending in the UK is now thought to be the cause of a slowdown in mortality improvement, which has led the longevity swap market to stall.
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Allstate reduced its traditional limit when it renewed its $4.42bn nationwide catastrophe reinsurance treaty at the mid-year renewals, after having cover up to $4.55bn last year, sister publication The Insurance Insider reported.