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AM Best has downgraded and withdrawn its debt rating on Aspen Re’s $100mn earthquake cat bond Ajax Re, after it failed to make the full payment on the outstanding principal amount of the notes
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Industry loss warranty (ILW) and catastrophe derivatives trading volumes are “considerably” lower than last year, stifled by high prices and the effects of contagion from the financial ma
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Newly founded Perils AG – the Zurich-based company set up to establish a European industry-wide loss index – estimates the property insurance market loss for windstorm Klaus at EUR1.55bn.
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German reinsurance giant Munich Re has launched a EUR100mn European windstorm and Turkish earthquake cat bond – Ianus – which will be welcomed by those calling for peril diversification i
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Military mutual insurer and insurance-linked securities (ILS) stalwart USAA is currently marketing its thirteenth consecutive cat bond – the $150mn Residential Re 2009 – Trading Risk can
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Insurance-linked securities (ILS) pioneer Swiss Re has returned to the cat bond market with a $60mn US wind and quake cat bond – Successor II – after almost a year of inactivity in the is
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Niche US property insurer Assurant Inc has successfully launched its first cat bond – the $150mn US wind bond Ibis Re Ltd Series 2009-1 – Trading Risk can reveal. Cayman Islands-registere
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Insurance linked securities (ILS) demonstrated a more than 60 percent long-term correlation to the S&P500 index in the aftermath of the Lehman Brothers collapse last year, despite the sector purporti
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IFEX traded 3,600 lots of US wind event-linked futures on the Chicago Climate Futures Exchange (CCFE) in one day last week, as trading accelerates prior to the 1 June North Atlantic storm season. The
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Munich Re and Tokio Marine Nichido Fire have closed a private cat swap based on Risk Management Solutions’ (RMS) Paradex-Europe Windstorm (PEW) index, taking the total notional amount of risk t
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Newly established European catastrophe information aggregator Perils has appointed Dr Luzi Hitz as CEO. Hitz joins from Glacier Group, where he was head of international property and casualty treaty.
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German insurance giant Allianz’s Blue Fin II cat bond – which increased in size to $180mn last week – was over-subscribed at its close yesterday (14 April). The US wind and quake bo