Archive for May, 2015

Another re/insurance sector M&A deal has completed, meaning there is one less participant in the market. Global insurance and reinsurance firm XL Group and Catlin’s deal closes today with the new brand XL Catlin is set to launch next week.

Citizens has lined itself up with the best protection in its history for 2015, with a risk transfer, reinsurance and catastrophe bond programme that eliminates the need for Florida policyholder assessments right up to a 1 in 100 year storm.

Blue Capital Reinsurance Holdings Ltd. (BCRH), the NY stock exchange listed collateralized reinsurance subsidiary of Bermuda-based Montpelier Re, beat analysts expectations in its results announcement yesterday.

Reinsurance companies are in a vicious circle. With losses remaining low reinsurers report profitable results, which has the effect of attracting more capital, which in turn deteriorates market conditions, but with no serious losses results continue to be attractive to investors.

Florida’s Citizens latest Everglades Re II Ltd. (Series 2015-1) catastrophe bond has now been priced. The cat bond has now upsized by 20% to $300m, while the final pricing almost reached the top of the expanded guidance, as Citizens finalised a $3.9B risk transfer programme for 2015.