Secondary trading
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Life settlement market pioneer The Coventry Group has formed a strategic partnership with Traymar Capital - the investment management platform of ex-RBS executives Henry Kus and Bjorn Schmolk.
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Goldman Sachs is offering up to $200mn of its holding in Unum Group's $800mn Northwind embedded value life securitisation for sale in the secondary market at an approximate 20 percent discount to par.
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The Financial Services Authority (FSA) has voiced "significant concerns" about how life settlements products are sold to retail investors saying that the investment risk to consumers is "often downplayed", according to Peter Smith, head of investment in the UK regulator's policy department.
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US broker-dealer Cantor Fitzgerald is set to be the latest firm to launch a secondary ILS trading desk, Trading Risk can reveal.
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Cat bond holders noted strong price increases in January, with an increasing number realising gains by selling at above market price, according to sources.
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US investment bank JP Morgan is willing to contribute its LifeMetrics parametric longevity index to the Life and Longevity Markets Association (LLMA) in order to focus the market's efforts on a single listing, Trading Risk can reveal.
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US broker-dealer Cantor Fitzgerald is set to be the latest firm to launch a secondary ILS trading desk, Trading Risk can reveal.
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Dedicated insurance-linked derivatives broker Myrias LLC has ceased to trade, closing its screen-based trading platform with effect from 22 January, Trading Risk can reveal.
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The ILS market produced a total return of 10.97 percent in 2009, driven mainly by mark-to-market gains from tightening cat bond spreads, according to Aon Benfield Securities.
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The steep decline in spreads helped to encourage $1.6bn in new ILS issuances among repeat sponsors in the fourth quarter of 2009.
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Secondary market traders registered an uptick in cat bond trading in November, as the US wind season drew to a close and US wind-exposed bonds came off-risk.
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The secondary market price of 2009 cat bonds has shot up to an average 108-112 cents to the dollar, reflecting strong demand for the high yields in early post-Lehman issuance.