February 2009/1

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

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

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

Distress in the financial markets in 2008 caused secondary trading volumes to outstrip primary issuance more than twofold as credit risk seeped into the sector and de-leveraging hedge funds were forc

  Allstate-sponsored $250mn cat bond Willow Re paid only 91 percent of its latest interest payment, triggering ratings agencies Standard & Poor’s (S&P) and AM Best to downgrade the notes, citin

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

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

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

Capital markets capacity providers will emerge as winners as traditional markets seek alternative sources of capital in the face of major 2008 balance sheet losses.   With the 2008 results season now

  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

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

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