February 2010/1

Risk Management Solutions (RMS) has officially launched its third natural catastrophe index under the Paradex banner - Paradex US Earthquake (PUSEQ).

Hannover Re has expanded its K6 sidecar vehicle by $152mn, to offer $329mn of total capacity for the German reinsurer's catastrophe retro business in 2010.

The Weather Risk Management Association (WRMA) has broadened its membership criteria to include companies active in cat bonds, ILS and industry loss warranties.

Ratings agency Moody's Investors Service has put EUR189mn of Swiss Re's Crystal Credit securitisation on review for further downgrade as losses mount.

Fitch has confirmed the expected BBB- rating on EUR38.9mn of Value In Force life notes issued by Atlanticlux-sponsored special purpose vehicle (SPV) Ganeesha ISA.

Munich Re's 2009 full year net profit soared 62 percent to EUR2.56bn, exceeding analysts' estimates and its own guidance.

US investment bank JP Morgan is willing to contribute its LifeMetrics parametric longevity index to the Life and Longevity Markets Association (LLMA) in order to focus the market's efforts on a single listing, Trading Risk can reveal.

With more bad news emerging from the insurance-linked derivative sector this month, one could be forgiven for reaching for the quill and penning the obituary of exchange-traded (re)insurance risk.

Uncertainty shadows the near-term renewal of Bermudian investment firm Nephila Capital's $310mn catastrophe collateralised risk obligation (CRO) Gamut Re, casting doubt on the renewal of more than $1.75bn of non-standard ILS capacity in 2010.