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An estimated $2-2.5bn of cat bond capacity has been traded in the secondary market to date in 2009 – outstripping the $1.8bn of new issuance of insurance-linked securities (ILS) by 40 percent.
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Swiss insurer Zurich Financial Services (ZFS) has confirmed receipt of $128.5mn in paid claims from its $190mn KAMP Re cat bond, sparking a flurry of trading interest in the distressed notes. Pricin
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Electronic weather trading platform Weather Risk Solutions (WRS) has fully launched a series of hurricane commodity call options, allowing traders to hedge the risk of a landfalling hurricane in 78 U
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IFEX has added to its suite of event-linked futures (ELF), listing Eastern seaboard and North East US tropical wind contracts on the Chicago Climate Futures Exchange (CCFE). IFEX – which trades
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The C tranche of State Farm’s 2007 Merna Re transaction and the Swiss Re-sponsored Vega Capital’s class A and B notes have been upgraded by Moody’s Investors Service and Standard
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Risk Management Solutions (RMS) estimates a reduction of up to 35 percent in insured loss estimates for Californian earthquake, following a revision of its North American earthquake model this month.
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As predicted in July, Standard & Poor’s (S&P) lowered its ratings on four tranches of USAA’s Residential Reinsurance 2007, upon receipt of the annual reset reports from AIR Worldwide. In
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A seepage of asbestos claims into Oil Casualty Insurance Ltd (OCIL)’s loss-stricken excess liability cat bond, Avalon Re, has thrown into question the valuation of its August tender offer to re
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Swiss Re fell back into the red for the second quarter, as worse-than-expected mark-to-market losses and writedowns returned to haunt the reinsurer. Meanwhile, Hannover Re and Munich Re fared well in
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Moody’s Investors Service has maintained the ratings for Bank of Ireland’s 2007 life ILS Avondale Securities on review for possible downgrade. Moody’s said it’s review of the
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The North Atlantic wind season is predicted to produce ten tropical storms, of which four will strengthen to hurricanes, according to the Colorado State University storm research team. In August the
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Insured losses from natural catastrophes were an above average $11bn for the first half of the year, according to Munich Re. Between January and June 2009, there were 380 natural catastrophes worldwi