May 2009/1

Trading Risk has partnered with Swiss Re to publish its proprietary cat bond index on a regular basis. Look out for regular data and commentary on ILS performance in our newsletters and on our websit

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

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)

A surge in recession-related credit losses has “increased the default possibility” of Swiss Re’s $252mn credit reinsurance securitisation, Crystal Credit, prompting Standard & Poor

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

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

The renewal of Hannover Re’s hybrid sidecar vehicle - $133mn Globe Re – has been stalled by a “huge gap” between pricing in the traditional and capital markets, Trading Risk c

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

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

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

Credit Suisse Asset Management (CSAM) is set to launch a $65mn dedicated life insurance linked securities (ILS) fund, demonstrating the resurgent popularity of life risk trading. The fund – cal