The Turkish Catastrophe Insurance Pool (TCIP) is returning to the catastrophe bond market for an anticipated second earthquake deal, with another parametric trigger structure under a Bosphorus Ltd. (Series 2015-1) transaction.
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A new private catastrophe bond issuance has completed and listed in Bermuda using the Kane SAC Limited Note Program. $9.722m of Kane SAC Limited – Series Ax Notes were listed on the Bermuda Stock Exchange (BSX) yesterday.
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The insurance-linked securities (ILS) investment unit at SCOR Investment Partners has strengthened its team with the addition of Sidney Rostan and Pierre Mouilhade as portfolio managers, as it plans to increasingly focus on private ILS and collateralized reinsurance.
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Reinsurance firm PartnerRe and re/insurer AXIS Capital continued to reaffirm their commitment to merge yesterday, highlighting what they deem a tax risk for preferred and common shareholders if they opted for the PartnerRe buyout offer from EXOR.
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The impressive growth that the insurance-linked securities (ILS) market has witnessed, amplified by a host of new capital providers, could present challenges for potential investors that aren’t already active in the space.
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Catastrophe activity during the second-quarter of the year has resulted in the lowest first-half catastrophe insured loss total across the U.S. and Canada since 2010, but the frequency of events is on the rise, according to Property Claims Services (PCS).
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Industry loss warranties (ILW’s) have responded to capacity constraints and return demands from insurance-linked securities (ILS) markets, becoming the next instruments to see a slight hardening in prices after catastrophe bonds.
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The insurance-linked securities (ILS) and reinsurance market legal, fiduciary and management services offered by Appleby Group will not change in the face of a private equity backed management buyout of its fiduciary unit.
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Mt. Logan Re, the collateralized reinsurance sidecar or perhaps better termed third-party capital companion reinsurance vehicle owned by re/insurer Everest Re, has announced the hire of ex-Platinum exec Chris Caponigro as its Head of Business Development.
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AXIS Capital, the insurance and reinsurance company seeking to merge with Bermudian reinsurer PartnerRe in the face of the bid from Italian investment firm EXOR, says the proposed merger is superior “immediately and in the future.” However AXIS has suspended all merger integration work.
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The insurance and reinsurance value proposition is coming under attack as two factors, more widely available data on risks and abundant capital or risk transfer capacity, combine to erode the industries barriers to entry and disrupt incumbents.
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Bermuda is seeking to ready itself to be considered as a “third-country,” or non-European Union, with passport rights under the Alternative Investment Fund Managers Directive (AIFMD), a move which would benefit local ILS funds and managers.
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All of the international climate models surveyed by the Australian Government Bureau of Meteorology, for its latest update on the El Niño Southern Oscillation (ENSO), indicate that the current El Niño is likely to strengthen and persist into early 2016.
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The Board of reinsurance firm PartnerRe responded to the latest improved offer from Italian investment holding company EXOR, saying that it acknowledges that the offer is reasonably likely to result in a “Superior Proposal”, but added that it still prefers the planned merger with AXIS Capital.
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