ILS spreads have widened in the mid-to-high teens range after last year's losses, Swiss Re Capital Markets estimated in its latest quarterly market report.
Abuse of side pockets in the financial crisis - when hedge funds locked in investors to avoid having to sell off discounted assets - has made the practice less palatable in the wider financial markets.
Baillie Gifford has lowered its stake in the ordinary shares on offer from the Catco Reinsurance Opportunities Fund, according to a London Stock Exchange filing.
Markel Catco's "eye-catching" hike to its wildfire loss reserves in its December monthly report implies that the Californian disasters triggered the firm's "floating back-up" pillars, according to a Numis analyst's note.
PCS has largely reversed an earlier cut to its loss forecast for Hurricane Irma, estimating the insured damage at $17.2bn, sister publication The Insurance Insider reported.
