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Florida Hurricane Cat Fund approved to buy $1B of reinsurance cover

The Florida Cabinet's State Board of Administration and Governor Scott have now approved the Florida Hurricane Catastrophe Fund (FHCF) to buy $1 billion of private reinsurance coverage, from a combination of traditional and collateralized reinsurance.As we wrote earlier today, the FHCF and State Board of Administration was taking a proposal read the full article →

Florida Cat Fund to seek $1B reinsurance or collateralized (no cat bonds)

The Florida Hurricane Catastrophe Fund (FHCF) is getting closer to accessing the private reinsurance and risk transfer markets for the first time, as it seeks to better protect itself and take advantage of near-record low reinsurance rates for Florida property catastrophe risks.Update: The proposal detailed below was approved at the read the full article →

Florida cat fund approved to pursue up to $2.2B of risk transfer

The Florida Cabinet and Governor Scott have just approved the CEO of the Florida Hurricane Catastrophe Fund (FHCF) to go to the private reinsurance and capital markets to establish options and pricing for up to $2.2 billion of risk transfer.It's a ground breaking step for the FHCF, which has been read the full article →

Florida Hurricane Cat Fund seeks $2.2B private reinsurance approval

The Florida Hurricane Catastrophe Fund (FHCF), the state's backstop reinsurance fund for private insurers, is once again seeking approval from the Cabinet to tap the private reinsurance markets for up to $2.2 billion of protection.Update: The FHCF was approved to pursue the $2.2 billion of reinsurance and risk transfer on read the full article →

Catastrophe bond investment funds contribute to GAM asset growth

Independent asset management group GAM Holdings announced its first-half results today, reporting net new money inflows of approx $1.43 billion and 5% growth in assets over the period, with its catastrophe bond fund strategies contributing strongly.The half-yearly results statement discusses the inflows and growth of assets and highlights catastrophe bonds read the full article →

USD hedged version of ILS fund performance index launched

Hedge fund data and performance information provider, Eurekahedge, and Asia based insurance-linked investments advisers, ILS Advisers, have launched a USD hedged version of their index which tracks the performance of insurance-linked investment funds.It's almost two years since the launch of the Eurekahedge ILS Advisers Index, the first index of its read the full article →

Pennsylvania schools pension fund on ILS investment exposure to Sandy

Here's an interesting side-story on Sandy where a U.S. state schools pension fund was in the path of hurricane Sandy, Pennsylvania was a state impacted by the storm, and now also faces a potential impairment to their investment portfolio because they have invested in a reinsurance-linked investment fund. The Pennsylvania read the full article →

GAM to operate waiting list on subscriptions to catastrophe bond fund

Investment manager GAM have announced that they are going to be operating a waiting list on new subscriptions to their GAM Star Cat Bond fund due to capacity constraints in the sector. The UCITS-compliant fund which launched in Q4 last year has apparently been seeing strong investor demand and it read the full article →

DCG Iris raises £40.1m in share issuance for insurance-linked securities fund

At the end of April we wrote about the upcoming launch of a new insurance-linked securities fund which was being launched by Dexion Capital as a closed-end investment company and would be listed on the London Stock Exchange. DCG Iris Limited has been actively fund-raising since the start of May read the full article →

Nuclear Electric Insurance increases allocation to ILS with Anchor Risk Advisors

Nuclear Electric Insurance Ltd., a mutual insurance company who specialise in providing insurance for electrical utilities, have increased their investment allocation to insurance-linked securities (specifically catastrophe bonds) through ILS investment manager Anchor Risk Advisors. Nuclear Electric Insurance were one of Anchor's initial investors and by growing their allocation to the read the full article →