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July 2008/1

  • 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
  • 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
  • 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
  • The much-anticipated launch of a comprehensive, stand-alone European windstorm loss index has been delayed until at least “the beginning of 2009” after failing to gain sufficient commitme
  • 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
  • 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.
  • 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