August 2013/1

AM Best placed SAC Re's ratings on review with negative implications after it emerged that the Bermudian reinsurer's backer SAC Capital Advisors is facing criminal charges in the US

New fund inflows top $2.5bn in Q2; Blackstone picks Nephila; TWIA behind Kane's debut cat bond; Sale process continues at Towers Watson

Switzerland-based ILS fund manager Twelve Capital has completed what it believes is the first collateralised participation on a terrorism excess-of-loss retrocession programme

Broker Optex Group has launched a new Lloyd's Calendar Year Combined Ratio Index, which it hopes will provide investors with a new point of access to the London market. Optex director Andrew Martin explains the proposition.

Switzerland-based ILS fund manager Solidum Partners has expanded its private cat bond portfolio for 2013, transforming regional US hurricane risk into $71.45mn of securities in three separate deals, Trading Risk can reveal

Earlier this summer, AIR Worldwide officially launched Touchstone, a new catastrophe modelling platform designed to provide users with a deeper understanding of their risk exposures, continuing the trend for major modellers to compete by providing software solutions as well as science.

Independent (re)insurance broker BMS has appointed former Aon Benfield executive Romulo Braga to lead its new capital markets division BMS Capital Advisory in the US

RMS has said the Version 13 (V13) update to its Atlantic hurricane model showed that there was a 20 percent chance that US landfalling hurricanes could produce a storm surge loss that was greater than the wind-related impact.

The Aon Benfield All Bond ILS index posted a 12.14 percent return in the year to 30 June 2013, which was substantially higher than the index's long-term average and outperformed all fixed income benchmarks.

Listed ILS fund DCG Iris reported an active month for cat bond trading in June as it moved out of several positions in order to lock in mark-to-market profits, according to its latest monthly report

Mutual funds are likely to increase their role in the ILS market in the future, Aon Benfield Securities predicted in its 2013 review of the sector.

The robust pipeline of new cat bonds issued in 2013 led to high levels of trading on the secondary market during July, with some light trading continuing in the typically quiet month of August, sources said