December 2013/1

Willis has placed a A$56mn ($51mn) "cat in a circle" reinsurance derivative written by Endurance Global Weather for Australian mining client Roy Hill Holdings.

Throughout 2013, US wind bond prices have consistently sat about 4 percentage points above the five-year average over 2008-2012, according to Swiss Re pricing data collated by Tullet Prebon.

ILS traders have predicted that secondary trading volumes will reach $3bn-$3.5bn in 2013.

American International Group (AIG) quadrupled the size of its latest Tradewynd Re cat bond to $400mn from a $100mn target, as its tactic of providing investors with extra disclosure appeared to pay off.

ILS investors were anticipating a robust pipeline of cat bonds in the fourth quarter but they were initially left wondering where all the deals had gone.

Axis has established a new class 3A Bermudian reinsurer, Axis Ventures Re, as well as a management company, Axis Ventures, according to the latest registration statistics from the Bermuda Monetary Authority.

The profile of the alternative reinsurance market has significantly reshaped in 2013, according to Swiss Re statistics.

This is my last deadline of the year, so sympathies to those who will still be plugging away on renewals until the New Year.

Bermudian fund manager Aeolus expects to deploy about $200mn-$300mn in the January renewals via its new high-layer aggregate product Spire, Trading Risk understands.

AIG is understood to have ordered the largest global aggregate programme in the market as it renews its reinsurance cover for 2014.