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USAA extends maturity on $170m of notes across three ResRe cat bonds

U.S. primary military mutual insurer USAA has elected to extend the maturity dates for $170 million of catastrophe bond notes across three Residential Re issuances, as the firm continues to expect that it may be able to recover some of its losses from the principal that remains outstanding.USAA continues to read the full article →

Cumulus weather focused energy trading team transfers to Citadel

Much of the trading team behind the long-standing Cumulus weather and energy investment funds are transferring over to investments and hedge fund giant Citadel LLC, as the Cumulus funds are being shuttered, according to a report from Bloomberg.Citadel, which manages roughly $28 billion in its range of fund strategies, has read the full article →

Elementum joins Standards Board for Alternative Investments as signatory

Elementum Advisors LLC is the latest ILS fund manager to join the Standards Board for Alternative Investments (SBAI), which seeks to bring hedge fund or alternative investment fund managers and investors together to set standards for the industry, as a signatory.By signing up as a signatory to the SBAI, independent insurance-linked read the full article →

Thopas Re Ltd., a $95m reinsurance sidecar launched by Chaucer

International specialty insurer Chaucer plc has launched Thopas Re Ltd., a Bermuda domiciled fully collateralized reinsurance sidecar that will provide additional capital markets backed capacity to the firm's Chaucer Syndicate 1084’s global reinsurance portfolio in 2018.Chaucer is just the latest firm to look to third-party capital and ILS structures for read the full article →

Extratropical cyclone Herwart loss put at EUR 252m by PERILS

The insurance and reinsurance industry loss from recent extratropical cyclone Herwart has been put at EUR 252 million by industry loss data aggregator PERILS AG, which is lower than other estimates for the impact from the October European windstorm.PERILS EUR 252 million estimate is for losses across all countries affected read the full article →

RMS says hurricane Nate’s insured losses will not top $500m

Catastrophe risk modelling firm RMS has said that it does not believe that the insurance and reinsurance industry will face any more than $500 million of losses from recent hurricane Nate's wind and coastal flooding on the U.S. Gulf Coast.Nate struck the Gulf Coast as a strong Category 1 hurricane read the full article →

Hurricane Nate industry loss estimated at $500m: Karen Clark & Co.

Catastrophe risk modelling firm Karen Clark & Company has estimated that the insurance and reinsurance industry could face a $500 million industry loss from hurricane Nate's weekend impacts.It's a low enough figure to mean that most reinsurers and ILS funds will not be too concerned over the potential for hurricane read the full article →

New appointments at Hiscox including Szakmary from Blue Capital

Hiscox Re, the reinsurance part of the Hiscox Re & ILS division, has announced a new hire and an executive change, as Adam Szakmary who left ILS manager Blue Capital Management recently. Another change at the company involves Michael Jedraszak, who is leaving from his role as Chief Investment Officer read the full article →

Palomar Specialty’s Torrey Pines Re cat bond upsizes to $166m

California-based Palomar Specialty Insurance Company is set to complete its first catastrophe bond, the Torrey Pines Re Ltd. (Series 2017-1) deal, at an upsized $166 million and with pricing looking likely to settle around the mid to bottom of guidance.Private equity owned Palomar Specialty Insurance Company entered the cat bond read the full article →

Aberdeen Asset Management ups Blue Capital fund stake

Major investment manager Aberdeen Asset Management has increased its stake in the listed reinsurance and insurance linked securities (ILS) investment fund, the Blue Capital Global Reinsurance Fund, to over 5% with the acquisition of almost 2 million more shares.Through its Aberdeen Asset Managers Limited unit the investment manager has taken read the full article →