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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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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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Oil Casualty Insurance Co (OCIL) has launched a dutch auction to repurchase up to $50mn of the outstanding $135mn Class B notes on its 2005 excess liability cat bond Avalon Re, for up to $42.5mn. The
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IFEX has added to its suite of event-linked futures, listing Eastern seaboard and North East US tropical wind contracts on the Chicago Climate Futures Exchange (CCFE). IFEX – which trades indus
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Hannover Re’s latest catastrophe bond, Eurus II, closed yesterday (29 July), providing the reinsurer with EUR150mn of European windstorm cover and taking overall 2009 cat bond issuance to $1.8b
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Parkton Re Ltd, the cat bond put together for North Carolina’s state wind pool, has become the latest 2009 issue to upsize as it increased from a planned $125mn to $200mn on closing. The transa
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Notwithstanding an active 2009 catastrophe season, the spreads on insurance-linked securities (ILS) are likely to tighten later this year, in what is typically an active time for issuance. Accord
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Tony Ursano – CEO of Willis capital markets and advisory – has hired seven former colleagues from Banc of America (BofA) Securities to boost the new group. Former co-head of equity capita
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US law firm Cozen O’Connor has flagged its interest in the trading risk universe by launching a capital markets group with expertise in insurance-linked securities (ILS). The group will advise
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Senior convergence industry experts have contributed to a comprehensive teaching and reference guide to the sector – The Handbook of Insurance-Linked Securities (ILS) – published this mon