November 2010/1

Swaps on pension agenda; Hannover Life sees busy mortality pipeline ahead; Fermat's life research; Life note ratings; LLMA publishes standard documentation

Hedge fund Fortress Investment Group is in exclusive talks to buy a $6.2bn life settlements portfolio from Belgian bank KBC, according to reports.

A new Bermuda-based longevity insurance provider plans to start writing business from December after signing up several reinsurers to back its offering on a quota share basis.

Clariden Leu re-opens fund; Top Layer Re stable; Tomas triggers CCRIF payout

European catastrophe loss aggregator Perils has released loss estimates for a one-in-200-year European windstorm event to help (re)insurers prepare for the impact of Solvency II regulations.

Ratings agency Moody's has downgraded ratings on the upper tranches of Crystal Credit bonds on the back of rising aggregate loss provisions from sponsor Swiss Re.

Hedge fund Blue Mountains is understood to be involved in the launch of the $500mn Bermudian reinsurance and retro start-up Flex Re.

Outstanding European wind bonds are becoming increasingly sought after on the secondary market, sources say, after investors snapped up recent new issues.

Swiss ILS manager Solidum Partners' $4.25mn private cat bond transaction listed on the secondary market in October, offering investors a short-dated bond with the promise of capital gain at maturity.

Bonds with short periods to run until maturity are trading strongly on the secondary market as investors seek cashflow from un-exposed paper, according to brokers.

Latest cat bonds upsized significantly - marking true appetite or desperation from investors?

Catco, the aspiring collateralised catastrophe reinsurance fund, is hoping to raise sufficient capital to list on the London Stock Exchange next month.