March 2015/1

Catlin's new Galileo Re bond is already trading above par on the secondary market just weeks after its issuance.

Ace stands to earn lucrative fees from its new joint venture with BlackRock, ABR Re, according to a marketing presentation obtained by sister publication The Insurance Insider

The value of annual cat bond trading on the secondary market has more than doubled in the past four years, from $1.7bn in 2010 to $4.2bn last year, fund manager Elementum Advisors estimated.

Kane's segregated accounts company has issued a $50.2mn private cat bond, according to a listings announcement on the Bermuda Stock Exchange.

Cat bond issuance increased in tempo during March, as several low-yielding deals were brought to market.

Fermat co-founder John Seo said that the private market could take on US flood risk more efficiently than even a zero-profit government scheme such as the National Flood Insurance Program (NFIP)

Allstate has launched a seven-year Sanders Re transaction that would have one of the longest durations of any nat cat bond, Trading Risk understands.

The World Bank is currently working on a new $350mn earthquake and wind transaction with an emerging market government, according to vice president and treasurer Madelyn Antoncic.

Flexibility is a bit of a double-edged adjective to apply to underwriters in a softening market.

Further broking facilities targeting alternative market partners are expected to emerge following the recently announced Nephila-Amwins arrangement.

The Gator Re cat bond looks set to avoid a loss from 2014 storm activity, as the sponsor's aggregate estimated claims for the year remained below the $150mn trigger level, Trading Risk understands.