January 2012/1

Defunct reinsurer and cat bond sponsor Glacier Re is heading to arbitration after a prolonged dispute with the administrator of the firm's $76.5mn Nelson Re Class G notes

A host of diversifying offers have kicked off a rapid start to 2012 for the ILS market, including a renewal of Japanese mutual Zenkyoren's earthquake bond

Two natural catastrophe bonds closed at the end of December at hefty spreads to take 2011 issuance to $4.7bn, according to Trading Risk calculations

It's a bright forecast for 2012 as the annual Trading Risk Market Survey showed the convergence industry expects to continue to benefit from new investor inflows, rising pressure on property catastrophe rates and regulatory change.

A handful of new cat funds made their mark on the 1 January renewal season, deploying significant capacity into the collateralised reinsurance and retro, industry loss warranty (ILW) and cat bond markets

Each month as we send Trading Risk out into the convergence world, I'll spend a few moments wondering what all our readers will make of the new edition - and then the post-deadline surge of relief will take over

Cat bond brokers are expecting 2012 sales to reach at least $5bn as interest in buying alternative reinsurance solutions grows amid a hardening property catastrophe market

Pricing up, retentions up, unmodelled perils debated - but generally reinsurers completed placements