Florida state-backed insurer, Citizens is looking to repeat the success of its first cat bond issued in 2012, with a second bond issuance under Everglades Re this year. 20 March 2013
Allianz Risk Transfer has finalised an agreement with Bermuda-based, Nephila Capital to provide the company with three years of risk capacity. 18 March 2013
Kalista Global is pursuing an approach that values innovation in the ILS space rather than competing over market share, says its CEO Spencer Conway. 11 March 2013
A new industry group, ILS Bermuda, aims to draw together leading Bermuda participants in alternative space in order to engage with the global capital markets, promote job creation and lead economic growth. 7 March 2013
Conning warns that the ILS and reinsurance markets may face a clash of cultures as the two converge, while the ongoing success of ILS could yet serve to dent pricing in the space. 6 March 2013
Don Kramer’s Bermuda investment management company, ILS Capital Management has announced senior personnel changes as it develops its presence in an increasingly buoyant Bermuda ILS sector. 27 February 2013
Asta Managing Agency has been given approval in principle by Lloyd’s to establish syndicate 2357, which will be backed by Bermuda-based, Nephila Capital. 6 February 2013
27 special purpose insurers (SPIs) were established in 2012, as the Island played host to an increasing number of innovative vehicles looking to extend sidecar and dedicated cat fund capacity to the market. 24 January 2013
In its Bermuda 2013 Market Update, rating agency, Fitch argued that certain Bermuda players are becoming ‘risk asset managers’ as the market takes an increasingly prominent role in the convergence space. 24 January 2013
