Archive for October, 2013

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Validus CEO Ed Noonan on the ILS market, new capital and opportunities

Ed Noonan, the CEO of Bermuda domiciled insurance, reinsurance and third-party reinsurance capital management group Validus Holdings, spoke at some length about the insurance-linked securities (ILS) market and alternative reinsurance capital during the firms recent earnings call.With Validus one of the world's largest reinsurance groups, as well as being an read the full article →

UCITS ILS funds help to drive recent inflows of capital

The emergence of UCITS compatible catastrophe bond and insurance-linked securities (ILS) funds has helped to bring new capital into the ILS market, according to Michael Stahel, partner and portfolio manager at Swiss ILS and reinsurance-linked investment manager LGT Insurance-Linked Strategies.The launch of a number of UCITS compatible ILS funds, including some read the full article →

Windstorm Christian insured losses $1.7bn to $2.9bn estimates Credit Suisse

Insurance-linked securities and reinsurance-linked investment manager Credit Suisse has estimated that total insured industry losses from European windstorm Christian could be in the range of $1.7 billion to $2.9 billion but does not expect the event to impact its IRIS Low Volatility Plus fund.The update from Credit Suisse comes via read the full article →

Galileo Re takes 2013 catastrophe bond issuance to $6.54 billion

The completion yesterday of global specialty property casualty insurer and reinsurer Catlin’s latest catastrophe bond transaction, the $300m Galileo Re Ltd. (Series 2013-1), has taken 2013 catastrophe bond issuance to $6.54 billion, past the total seen in 2012 for the first time.According to the Artemis Deal Directory catastrophe bond and insurance-linked read the full article →

Cat bonds not immune from U.S. debt ceiling issues, Queen Street III on watch

Anyone who thought that catastrophe bonds were immune from the financial market uncertainty surrounding the U.S. debt ceiling has been proven wrong as Munich Re's Queen Street III Capital Ltd. cat bond is placed on a negative credit watch due to collateral issues triggered by the debt ceiling issue.The Queen read the full article →

Stone Ridge sets maximum size of $1.1 billion for ‘Interval’ ILS fund IPO

According to documents filed with the SEC yesterday, Stone Ridge Asset Management has set a proposed maximum aggregate offering price of $1.1 billion for its new insurance-linked securities (ILS) fund, the Stone Ridge Reinsurance Risk Premium Interval Fund.The documents show that the initial public offering (IPO) of shares in the read the full article →

Blue Capital Reinsurance Holdings to target $125m in IPO

According to reports Bermuda based reinsurer Montpelier Re will target raising $125m for its new collateralized reinsurer Blue Capital Reinsurance Holdings through its initial public offering of shares to be listed on the New York Stock Exchange.Reports suggest that Blue Capital Re will target offering 6.3 million shares at a read the full article →

Blue Capital grows premiums earned in third-quarter

Bermuda reinsurer Montpelier Re's third-party capital and reinsurance-linked investment fund management unit Blue Capital Management is showing steady progress as its premiums written increased to $35.3m and premiums earned reach $17.5m for 2013.The third-party capital management unit has been steadily growing its contribution to Montpelier Re's earnings over the course read the full article →

Willis Re: UK insured losses from windstorm Christian £300m to £500m

Reinsurance broker Willis Re is the first to issue an estimate of insured losses from this weeks European windstorm Christian for the UK. The UK was the first country to be directly hit by Christian and Willis Re estimates insured losses will be between £300m and £500m.The estimate from Willis read the full article →

Plenum: No impact expected to cat bonds from European windstorm Christian

Swiss insurance-linked securities and catastrophe bond investment manager Plenum Investments has issued a statement saying that it does not expect losses from European windstorm Christian to reach the attachment point of any exposed catastrophe bonds.The European windstorm, named Christian, St Jude, Carmen or Simone, depending on the forecasting organisation, blew read the full article →