Trading Risk June 2017
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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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Switzerland-based asset manager Plenum has discontinued its partnership with Sequant after marketing a new non-catastrophe ILS fund with the Bermuda asset manager last year, Trading Risk can report.
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The main factors in this year's "double-dip" Florida reinsurance renewal were abundant supply, reduced demand from several key buyers and uncertainty over model changes.
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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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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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Argenta non-executive director and former Lloyd's deputy chairman Graham White is to lead a new Lloyd's Market Association (LMA) group to represent the interests of members' agents at Lloyd's.
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The CEO of Dutch pension fund PGGM, Else Bos, has resigned after holding the position for five years.
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Leadenhall Capital Partners is a key investor in start-up Gryphon Group Holdings, which plans to take a technology-focused approach to delivering life insurance products.
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Four recent private and cat bond lite deals cleared during the mid-year renewals.
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Standards set by the Hedge Fund Standards Board (HFSB) can provide a pattern for ILS managers to mitigate potential conflicts of interest, Hiscox Re ILS COO Richard Lowther told Trading Risk.
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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.