Secondary trading

BB-rated cat bonds posted a 1 percent gain in the first quarter of 2009, recovering from a 1 percent loss in the final quarter of last year. The first quarter gain occurred as high yield bonds

The secondary market for insurance-linked securities (ILS) has seen disproportionate trading in short-dated cat bonds as investors strive to hold liquid positions. During brisk trading in the fourth

Distress in the financial markets in 2008 caused secondary trading volumes to outstrip primary issuance more than twofold as credit risk seeped into the sector and de-leveraging hedge funds were forc

  Heavy fourth quarter 2008 secondary cat bond trading sent the insurance linked securities (ILS) market to only the second quarterly loss in its history, at 0.94 percent.   The quarter’s loss

October is set to be the busiest month of the year for secondary trading of cat bonds, as the global financial crisis spills over into the insurance linked securities (ILS) sector. Broker-dealer Swis

Hannover Re’s dedicated ILS department has recently bought about $30mn of life and non-life bonds in the secondary market. The department’s head, Henning Ludolphs told Trading Risk that h

Four cat bonds guaranteed by failed investment bank Lehman Brothers have had “limited trading” in the secondary market at “distressed levels”, according to dealers. Tranches o

October is set to be the busiest month of the year for secondary trading of cat bonds, as the global financial crisis spills over into the insurance linked securities (ILS) sector. Broker-dealer Swi

Evolution Markets has launched a new division for trading and structuring catastrophe derivatives following its successful entry into the weather derivatives market. The division will encompass a br

A number of maturing cat bonds in June have released capacity for investors, tempering trading in the secondary market during the recent rush of new cat bond issuance. Secondary trading of cat bonds

ICAP-JLT, the catastrophe swap brokerage joint venture, has launched a new screenbased insurance linked securities (ILS) broking service to trade cat bonds and “other ILS”, according to t

State Farm’s 2007 landmark catastrophe bond, Merna Re, is coming under pricing pressure in the secondary market, as investors seek to sell large chunks of the investment grade notes, according