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Swiss Re will close its emissions trading desk and move its natural catastrophe insurance linked securities (ILS) under the control of its traditional underwriting function as it continues to pare ba
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BB-rated cat bonds posted a 1 percent gain in the first quarter of 2009, recovering from a 1 percent loss in the final quarter of last year. The first quarter gain occurred as high yield bonds
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A dislocation in pricing between cat bonds and the traditional reinsurance market may dampen the appetite of potential new ILS sponsors in 2009, according to Ming Lee, president and CEO of modelling
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The secondary market for insurance-linked securities (ILS) has seen disproportionate trading in short-dated cat bonds as investors strive to hold liquid positions. During brisk trading in the fourth
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Juniperus Capital Limited (JCL) chief executive Michael Cash has left the Aon Benfield-backed investment firm just nine months after its launch, prompting a management reshuffle. Executive chairman P
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Texan lawmakers are weighing up a raft of proposed legislation that could overhaul the state’s loss-struck wind pool – triggering an increased reinsurance spend – or even establish
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The Caribbean Catastrophe Risk Insurance Facility (CCRIF) – the multi-country catastrophe risk pool backed by the World Bank – has had its reserves boosted by a EUR12.5mn donation from th
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The ILS sector is maturing and now offers sufficient breadth and depth – through sidecars, catastrophe bonds, insurance-linked derivatives and other products – to provide real risk transf
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Temporarily distracted by tempting returns in other asset classes, multi-strategy investors consider insurance-linked securities (ILS) as a solid diversifying asset and demonstrate a high tolerance o
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The three remaining cat bonds affected by the collapse of Lehman Brothers have met their March interest payments. However, a default risk remains on troubled Ajax Re, Standard & Poor’s (S&P) sa
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Investors in the $33.5mn class G notes of closed sidecar Puma Capital are still vulnerable to losses from Hurricane Ike, despite the vehicle ceasing to write new business in April of last year. The $
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Allianz’s 2008 Blue Coast cat bond has been placed on negative watch due to fears that hurricanes Ike and Gustav will trigger a loss on it. If the bond were to suffer a loss it would be the six