February 2009/1

 The Chicago Mercantile Exchange (CME) traded more than $30mn notional limit of its CHI hurricane cat futures in the first weeks of 2009, as reinsurance broker Carvill withdrew from the initiative wh

Swiss Re is probing all sectors of the trading risk universe in an attempt to hedge layers of the $1.55bn of exposure it assumed on the California Earthquake Authority (CEA) reinsurance programme in

Insurance-linked capital markets could benefit as Florida looks to alternative capital providers as part of the solution to the state catastrophe fund’s $19bn capacity shortfall.   Florida Hurr

The devastating Windstorm Klaus – which swept across southern France and northern Spain on 23-24 January leaving a trail of destruction – could trigger cat bonds if the losses are as high

Industry Loss Warranty (ILW) rates are stabilising as retro buyers step back from the maelstrom of 2008 rate hikes and capacity shortages and the January 1 renewals.   ICAP’s Rob Turner told Tr

  Heavy fourth quarter 2008 secondary cat bond trading sent the insurance linked securities (ILS) market to only the second quarterly loss in its history, at 0.94 percent.   The quarter’s loss

Asset values in the collateral account of Hannover Re’s $133mn hybrid sidecar vehicle Globe Re have fallen, triggering a “new mark-to-market collateral arrangement”.   Deutsche Bank

Citadel’s CIG Re and New Castle Re’s 2007 $500mn all-debt sidecar vehicle, Emerson Re, has been terminated as the hedge fund significantly scaled back its presence in the (re)insurance ma

The recent downgrade of Allstate’s Willow Re and reset of Hannover Re’s Globe Re  on the basis of collateral performance have heightened scrutiny on cat bond  structures, raising the ques

The Irish Financial Regulator (IFR) initially declined to authorise the special purpose reinsurance vehicle (SPRV) Atlas V Re Ltd in February, in a show of teeth that delayed the issuance of the firs

Oil Casualty Insurance Company’s (OIL) 2005 $405mn Avalon Re bond has been extended a further nine months, to 3 September 2009, in order to fully assess the losses to the bond.   The notes, whi

Swiss Re's Jacques Aigrain stepped down as CEO as the firm's share price plumbed new depths in early February.   Investors deserted the stock following a package of measures to shore up the reinsurer