Hurricane

A group of ILS funds tracked by the Eurekahedge ILS Advisers Index posted an average return of 0.33 percent in July, after showing flat returns in June when European flood losses affected some funds.

The US National Oceanic and Atmospheric Administration (NOAA) Climate Prediction Center has lowered its outlook for the 2013 Atlantic hurricane season, in line with other forecasters, as June and July passed without a hurricane forming

Thunderstorms that hit Toronto last month could cost insurers CAD750mn ($730mn) in the country's second major catastrophe disaster for 2013, according to Aon Benfield's modelling centre Impact Forecasting.

Standard & Poor's (S&P) has upgraded the $75mn Queen Street V Re cat bond following its annual reset, due to a change in sponsor Munich Re's European exposure and the regional payout factors.

Standard & Poor's (S&P) has warned that it could take rating actions on cat bonds due to the risk of US money market funds ‘breaking the buck' if the Securities and Exchange Commission (SEC) follows through with proposals to tighten regulation of such funds.

Standard & Poor's (S&P) has rated $3.55bn of natural catastrophe bonds in the first seven months of 2013, up from $3.3bn in the same period last year and $1.6bn and $2.1bn in 2011 and 2010.

RMS has today (31 July) released its updated Version 13 (v13) Atlantic hurricane model, which is expected to provide a lower overall view of risk than in its previous 2011 version.

The buoyant cat bond market must embrace new perils or geographies if it is to maintain the growth rate of recent years, a senior Willis Capital Markets & Advisory (WCMA) executive has warned

The Chicago Mercantile Exchange (CME) cleared a trade of 750 seasonal hurricane options representing $7.5mn of notional limit in May in the first deal to date in 2013, according to information from the exchange.

The spate of new cat bond issuance in June helped boost trading activity on the secondary market as the US hurricane season started.

A group of ILS funds tracked by the Eurekahedge ILS Advisers Index posted an average return of 0.42 percent in May, with all the funds represented posting positive figures for the month

Swiss Re has upsized its latest Mythen Re cat bond offering from $75mn to $100mn as pricing on the US hurricane deal closed at the bottom of initial guidance, Trading Risk understands.