ILS

The product is the first non-US cat bond issued in the past nine months.

The business will become part of Artex Risk Solutions, a unit that focuses on captive management and alternative risk transfer.

The Galileo cat bond is the first to be launched by Axa XL since Axa bought XL Group in 2018.

The sector will see a slight dip in capital at the upcoming renewals, but growth prospects are strong, panellists at an S&P conference predict.

Bernina Re will become the flagship underwriting unit for Credit Suisse's ILS funds.

Moves under consideration include acquisitions, as well as merger deals.

Investors may be able to part collateralise ILS investments with other assets, effectively adding an ILS overlay to an existing mandate, says Rick Pagnani, head of the firm’s ILS business.

Hudson Structured Capital Management has continued to add senior Bermudian (re)insurance talent to its advisory board.

The industry can offer cover on climate risks but should also look at resilient investments, the Bank of England governor said.

The Californian utilities firm has established a $14bn backstop fund to ensure all liabilities are paid.

The launch follows the carrier’s decision earlier this year to put CatCo into run-off.

"Signs of fatigue" are showing in the market as pricing hardens slightly.