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November 2011/1

  • Two new cat bonds remain in the market at the time of going to press - a $125mn US multi-peril Residential Re offering from repeat sponsor USAA and a $275mn Compass Re issuance from Chartis division National Union Fire Insurance Company (NUFI)
  • LS investors snapped up a trio of cat bonds that closed above target on tight pricing in the past month
  • Swiss-based ILS fund manager Solidum Partners will issue a new private cat bond off the back of its participation in the California Earthquake Authority (CEA)'s 2012 reinsurance programme, Trading Risk can reveal
  • Are we in danger of creating an exclusive club for the cat bond fraternity, where $100mn is the new threshold for entry to the room?
  • Collateralised reinsurers stand to benefit from expected strong demand for aggregate covers at the 2012 reinsurance renewals, as (re)insurers seek to protect their earnings amid heavy cat loss accumulations
  • German reinsurer Hannover Re is braced for a challenging retro renewal as it approaches capacity providers for at least EUR450mn of 2012 cover this month