June 2009/1
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Dan Ozizmir has become the most high profile casualty of Swiss Re’s ongoing overhaul of its insurance-linked securities (ILS) operations, Trading Risk can reveal. The head of the reinsurer
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More than $1.7bn of sidecar capacity was secured by reinsurers looking to cash in on attractive underwriting conditions and potential capacity shortages in the first half of 2009, despite “diff
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With $1.385bn of US wind and quake peril securitised to date in 2009, and another $100-150mn in the pipeline (see p1) insurance-linked securities (ILS) investors called for peril diversification as t
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A clear pipeline for new cat bond issuance in early June proved a fillip for secondary trading, with volumes and pricing increasing on US and non-US peril bonds. “In the first ten days of June
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Insurance-linked securities (ILS) sponsor USAA – which issued its thirteenth consecutive cat bond last month – has set a new disclosure standard for (re)insurers by posting data on all of
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CCRIF into 3rd year with 10 percent rate cut Reinsurance broker Aon Benfield has confirmed that all 16 Caribbean member governments have renewed their catastrophe policies with the World Bank-sponso
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Eurex, the leading European derivative exchange and clearing house, is to launch binary US hurricane derivatives on 29 June, complementing current over-the-counter (OTC) trades. The exchange –
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June has seen the first signs of easing in the sky-high prices that have all but frozen the industry loss warranties (ILW) market in 2009. However, ILW pricing may have to fall a further 10-15 percen
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ISDA OTC template launched After two years of market consultation, the International Swaps and Derivatives Association (ISDA) has launched a standard template for trading US wind event futures. ISDA
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Traditional US reinsurance markets have recently shown significant capacity constraints, driving reinsurance rates upward and supporting catastrophe bond pricing at high levels. Reinsurance rates for
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The mysterious US investment fund which owns the outstanding positions in Aspen Insurance’s beleaguered cat bond, Ajax Re, is tussling with the administrators of the Lehman Brother’s bank
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Swiss Re and Guy Carpenter are bringing a $100-150mn cat bond to market on behalf of the North Carolina Joint Underwriting Association (NCJUA), in order to fill gaps left in its 1 June reinsurance pr
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Standard & Poor’s (S&P) has cited Hannover Re’s retro strategy as a factor in deciding to downgrade the outlook to negative on the reinsurer’s AA- credit and insurer financial stren
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The ILS market is braced for upcoming changes to California earthquake models that may reduce the estimated hazard resulting from a temblor by up to 35 percent. Upcoming releases from the two main p
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Oil and gas liability mutual Oil Casualty Insurance Ltd (OCIL)’s 2005 excess liability cat bond Avalon Re has once again extended the maturity date on its Class B and Class C notes to 9 Septemb
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Forecasting hurricane activity is rarely accurate, and should therefore not be relied on for making investment decisions in the sector, according to analysis from Numis Securities. Numis added that
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Cat risk appetite showed signs of reappearing from the hedge fund community, as two alternative investment specialists unveiled forays into insurance-linked investments this month. Cartesian Capital
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Global broker Aon Benfield has suspended its fundraising efforts for Aon’s investment management firm Global Insurance Strategies LLC (GIS), as it concentrates on Benfield-backed cat fund manag
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Nephila Capital has secured a new $35mn investment mandate from specialist fund manager AMP Capital Investors, further widening the audience for trading (re)insurance risk in the mainstream capital m
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