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Ratings agency Moody’s Investor Service has withdrawn its ratings on the notes and loans of Hannover Re’s 2008 hybrid sidecar vehicle – the $133mn Globe Re – on repayment of t
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Changes in the accounting treatment of insurance-linked securities and derivatives are set to boost the convergence sector, as the European directive Solvency II recognises the instruments as “
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Hannover Re’s European windstorm catastrophe bond, Eurus II, upsized today to EUR150mn, with indicative pricing in the low end of the range at EURIBOR plus 675 basis points. Pricing is expected
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Cat bond pricing is likely to face more downward pressure after reinsurance rate increases were kept subdued at the key 1 July renewal date by adequate traditional capacity. US catastrophe rates for
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The reinsurance and risk-linked investments team (RLI) at alternative asset manager Stark Investments is spinning out of the mothership in a management buy-out, led by portfolio managers Tony Rettino
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Ratings agency Standard & Poor’s (S&P) has downgraded six cat bonds and placed a further four on CreditWatch with negative implications in a move which stems from a hardening of its rating crit
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Convergence pioneer Nephila Capital raised an additional $800mn in the second quarter of this year for its insurance-linked investment funds, evincing a strong demand for non-correlated assets. Nephi
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Hannover Re’s proposed EUR75mn European windstorm catastrophe bond, Eurus II, will incorporate BNP Paribas’ (BNPP) repurchase agreement (repo) collateral structure. As reported by Trading
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North Carolina’s state-backed catastrophe insurance plans, the Joint Underwriting Association and the North Carolina Insurance Underwriting Association, (NCJUA/IUA), have securitised $125mn of
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Former Magnetar Capital portfolio manager Pete Vloedman is launching his own insurance-linked investment vehicle, Anchor Risk Advisors LLC, Trading Risk can reveal. Vloedman left alternative asset ma
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The lack of US windstorm activity so far is continuing to weigh on the pricing of industry loss warranties (ILW) and insurance-linked derivatives while volumes remain modest. Matthew Carter – v
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A $100 investment in insurance-linked securities (ILS) in 2002 would be worth $171 today, according to a report from broker dealer Lane Financial, with the firm’s cat bond return index showing