PartnerRe announced the formation of Lorenz Re, a Bermuda-domiciled “companion facility” special purpose insurer to provide additional capacity on a diversified portfolio of catastrophe reinsurance treaties over a multi-year period. 2 April 2013
Statistics from the Bermuda Monetary Authority reveal that alternative reinsurance formations account for half of all formations since the start of 2013. 2 April 2013
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
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
