Australian insurance group IAG has reported its results, revealing continued deterioration of its Canterbury, New Zealand earthquake claims, challenging commercial market conditions and new reinsurance arrangements with Warren Buffett’s Berkshire Hathaway.

Safepoint Insurance Company, an expansive insurer that began life as a Florida takeout player, is returning to the catastrophe bond market to add to its capital markets sourced reinsurance protection with a triple-tranche $100m Manatee Re Ltd. (Series 2016-1) deal.

A new, U.S. severe thunderstorm (STS) scenario model has been launched by Aon Benfield’s catastrophe model development team, Impact Forecasting, which will assist sponsors and investors in the catastrophe bond space to better understand U.S. thunderstorm risks.

Some weather derivative contracts have been impacted by the unusually warm winter conditions seen in the fourth-quarter of 2015 and which have continued into this year, with January 2016 seeing more temperature records broken.

GC Securities was involved in more than $2.4 billion of catastrophe bond and insurance-linked securities (ILS) transactions during 2015, growing its contribution to the outstanding market, according to data from the Artemis Deal Directory.

A more balanced ratio of buyers to sellers in the secondary market for catastrophe bonds resulted in a greater degree of equilibrium during January 2016, helping to support and stabilise prices, while the market saw elevated liquidity thanks to post-renewal portfolio adjustments.

Reinsurance and retrocession linked investment and fund manager Markel CATCo Investment Management Ltd. has appointed a new Chief Operating Officer (COO) from within, promoting Mark Way, who has worked for the firm since its launch in 2011, to the role.

Analysts at Bernstein have warned against the dangers of “bad business” and “underpriced risk” in the reinsurance sector, while reminding market players that in order for the softening environment to turn, “first there must be blood.”