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July 2008/1
  • Swiss Re closes $150mn Vega CRO
    Swiss Re successfully closed its $150mn Vega Capital Ltd collateralised risk obligation (CRO) transaction in June, partly replacing the $839mn of its various Successor bonds, according to sources clo
    06 July 2008
  • Excess capacity tempers secondary trading
    A number of maturing cat bonds in June have released capacity for investors, tempering trading in the secondary market during the recent rush of new cat bond issuance. Secondary trading of cat bonds
    06 July 2008
  • ILS defies credit crunch
    The insurance linked securities (ILS) sector is a rare jewel that stands out from the credit market turmoil, according to market leaders speaking at Trading Risk’s inaugural Executive Briefing
    06 July 2008
  • Former Guy Carp exec forms ILS advisory firm
    Christopher McGhee, former head of Guy Carpenter & Co’s specialist investment banking arm GC Securities Ltd, has formed an insurance-focused banking advisory firm. McGhee has partnered with New
    06 July 2008
  • World Bank embraces weather derivatives
    The World Bank is moving ahead with plans to use the weather derivative market as part of a comprehensive strategy to reduce the impact of drought in developing countries. The Bank will intermediate
    06 July 2008
  • Deutsche to test ILS hunger with LAZR launch
    Deutsche Bank is marketing a new trigger mechanism for insurance linked securities (ILS), with a $120mn Florida-only wind bond as the first transaction, Trading Risk can reveal. The LAZR transaction
    06 July 2008
  • Juniperus blooms with first cash investment
    Investment vehicle Juniperus Insurance Opportunity Fund (JIOF) made its first investment in Hannover Re’s sidecar Globe Re, last month. The newly launched fund, which will invest in traded (re)
    06 July 2008
  • Cat bonds leap ahead with fresh faces
    First-time issuers Nationwide Mutual Insurance Co (Caelus Re), HomeWise Insurance Co (Mangrove) and Flagstone Re (Valais Re) transferred $614mn of (re) insurance risk into the capital markets in May
    06 July 2008
  • Hannover's ILS team closes hybrid Globe Re
    Hannover Re’s new dedicated insurance linked securities (ILS) team has closed $133mn Globe Re – choosing an innovative deal as its first since launching in January. Globe consists of a pr
    06 July 2008
  • Nephila excited by Man's arrival
    ILS pioneer Nephila Capital says its tie-up with Man Group will fuel greater interest in the traded (re)insurance risk sector because it will bring new investors to the market. Last month, the hedge
    06 July 2008
  • Monoline woes lead to life downgrades
    Life insurer UNUM Group had two of its life securitisations downgraded in June by rating agency AM Best following the downgrade of beleaguered monoline insurer MBIA. Ratings on both the $130mn 2006 c
    06 July 2008
  • RMS launches risk trading platform
    Risk modelling firm Risk Management Solutions (RMS) aims to boost investment in the insurance linked securities (ILS) market with an electronic ILS portfolio management platform. Aimed at “maki
    06 July 2008
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