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July 2008/1
  • 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
  • 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
  • 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
  • S&P Ballantyne Re action
    Rating agency Standard & Poor’s (S&P) has lowered its senior debt rating on the Class A-1 notes of beleaugured Scottish Re’s Ballantyne Re life securitisation. S&P lowered the XXX reserve
    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
  • Aon next to target ILS fund
    Chicago-headquartered Aon Corp is marketing a dedicated insurance linked securities (ILS) fund, which plans to invest in a range of insurance linked alternative investments, Trading Risk understands.
    06 July 2008
  • Florida flux boosts ILW trading
    Pricing and trading in the industry loss warranty (ILW) market has boomed following mooted changes in the Florida state’s cat fund in recent months. It is understood that the cat fund and the s
    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
  • 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
  • RMS to trade two indices in OTC markets; more in pipeline
    Risk Management Solutions (RMS) has launched its second natural catastrophe index under the Paradex banner, with two more in the pipeline, says the risk modelling firm. The index, which RMS says is t
    06 July 2008
  • Carvill trades $50mn on CHI
    Trading platform Carvill Hurricane Index (CHI) has seen “around $50mn” of notional volume traded on its Chicago Mercantile Exchange (CME) platform this year, the firm’s joint CEO, J
    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
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