August 2009/1
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Reinsurer SCOR has settled its long-running dispute with Highfields Capital Management, the former main minority shareholder in its 2001 sidecar vehicle Irish Reinsurance Partners (IRP) Holdings Limi
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The two cat bonds to come to market in July both increased in size significantly during the marketing phase, evincing a strong demand from investors for new ILS issuance. North Carolina’s state
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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