The UK’s planned state-backed flood reinsurance pool, Flood Re, could leave UK insurance companies more exposed than before as the facility relies on the government keeping its promises on flood defenses and could raise exposure to climate change, said S&P.

Bermuda-based reinsurer Tokio Millennium Re AG, a subsidiary of Tokio Marine & Nichido Fire Insurance Co., Ltd., affirmed its commitment to, perhaps hinting at an increased focus on, the ILS and reinsurance convergence markets in a recent announcement.

Showing that it’s not all about reinsurance, catastrophe bonds and ILS when building a diversified capital base to pay claims from catastrophic events, the Texas Windstorm Insurance Association (TWIA) has added $500m of pre-event Class 1 bonds to its coverage.

A New York Federal judge dismissed claims regarding the catastrophe bond Mariah Re Ltd. on Tuesday, according to court transcripts. The judge ruled that the terms governing the definition of and process for qualifying events of Mariah Re are unambiguous.

Investment management firm AQR Capital Management LLC has registered its first catastrophe bond fund with the SEC, which would position the fund for launch to investors in 2015.

Typhoon Phanfone, which has intensified rapidly to a Category 3 storm with sustained winds of up to 120mph and gusts as high as 150mph, is on course to impact Japan, possibly Tokyo itself with hurricane strength winds by late Sunday or Monday.

The suggestion that insurance-linked securities (ILS) investors will flee from the reinsurance market, after a large industry loss or as soon as interest rates rise, is an ‘overly simplistic’ view on the sector according to market participants.

2014 continues to look capable of breaking records for catastrophe bond issuance, with this year still up on the last helped by an increased focus on the insurance-linked securities (ILS) markets’ sweet spot of U.S. perils, according to Property Claim Services (PCS).