May 2013/1

Switzerland-based ILS fund manager Secquaero Advisors has announced plans to launch a new non-life only fund with new management partner Schroders.

Former Rochdale Securities ILS trader Craig Bonder has moved with his team from Maxim to AK Capital to set up the firm's first ILS trading desk.

Mercury Capital has launched one of the first tracker funds in the ILS sector, allowing external investors to follow its new MiCRIX index of industry loss warranty (ILW) prices.

A busy period for primary issuance and buoyant demand for cat bonds has fuelled a very active secondary market over the past month, but pricing has finally started to ease back from sustained highs earlier in the year.

ILS spreads continued to tighten relentlessly as more than $1.5bn of new issuance closed during a busy month.

Run-off provider Randall & Quilter (R&Q) has teamed up with a new Bermudian-based ILS fund to develop "exit solutions" for capital market investors in collateralised reinsurance.

Mt Logan Re plans to deploy capital in the mid-year renewals, the vehicle's CEO Rick Pagnani told Trading Risk.

I learned a new word of jargon this week reading about the RMS(one) platform - apparently ecosystems can be technological these days and not just environmental.

Dedicated cat funds are continuing to reduce their participation in new ILS issuance this year, according to statistics obtained by Trading Risk.

Non-traditional reinsurers are looking to grow their role in Florida this year as local insurers are opening up to the idea of issuing cat bonds, while collateralised reinsurance writers look to grow their business in the state.