May 2009/1

Despite cat reinsurance rates continuing to harden, several proposed sidecar vehicles looking to cash in on attractive underwriting conditions and potential capacity shortages are stalling as the key

US military mutual insurer and ILS stalwart USAA has increased the size of its thirteenth consecutive cat bond, Residential Re 2009, by $90mn - to $240mn - Trading Risk can reveal. Goldman Sachs, whi

We are enormously proud of both the high calibre and the quantity of entries we received for the inaugural Trading Risk Awards 2009. The level and quality is exceptionally high and choosing the short

A second Lehman Brothers-backed catastrophe bond is in default after issuer Ajax Re failed to repay the principal at the 8 May redemption date, according to AM Best which downgraded and withdrew its

The recent outbreak of swine flu poses little immediate threat to the sector’s three extreme mortality cat bonds, despite the global death toll reaching 74. The World Health Organisation (WHO)

AM Best has taken rating actions on various tranches of Merrill Lynch’s innovative 2007 collateralised debt obligation (CDO) issue, Dekania. Dekania allowed smaller US and European carriers, in

Swiss Re has confirmed that it will cease carbon trading and close its emissions trading desk, in a move first revealed by Trading Risk. The reinsurance giant is understood to also be moving its natu

S&P has lowered its senior debt rating on Scottish Re’s life transaction Orkney Re II’s series A-2 notes to CC from CCC, citing declining mark-to-market asset values and doubts over the v

Despite mutterings of discontent in some corners of the investor community on loss-stricken liability cat bond Avalon Re, secondary market pricing still reflects only an anticipated partial loss on t

Leading ILS investor Nephila Capital and a subsidiary of Allianz Risk Transfer (ART) have tapped two investors for an extra $200mn to deploy during the 2009 US wind season. The two ILS-specialist fir

German reinsurance giant Munich Re has launched a EUR100mn European windstorm and Turkish earthquake cat bond – Ianus – which will be welcomed by those calling for peril diversification i

ILS investors are so keen to diversify their holdings with non-catastrophe exposures that they may be willing to trade yield for greater choice. Speaking at the S&P European ILS conference on the 13