Secondary trading

Lane Financial estimated the ILS market's turnover rate at about 20 percent or $4bn a year, after looking at 21 months of secondary trading data filed by the industry with US regulators

Xchanging said it hoped secondary "trades" of reinsurance contracts would become an integral facility of its X-gRm platform after TigerRisk announced it had completed the first such transaction today.

Cat bond trading slowed in early March amid uncertainty over the outlook for upcoming issuance

Independent London broker Alston Gayler (AG) has added a PCS Turkey licence to facilitate industry loss warranty (ILW) trading of the risk

The Swiss Re Cat Bond Price Return index stabilised in early February after posting incremental softening throughout late 2015.

ILS investors traded a total of at least $20mn MultiCat Mexico 2012 class C notes at distressed levels in the three months from late October.

Gross catastrophe bond yields ended 2015 up almost 10 percent from December 2014, according to RMS data.

Catastrophe bonds were yielding about 16 percent more year-on-year by the end of November, according to RMS data.

There were fewer buyers of cat bonds near maturity this year than in 2014, making it more difficult for sellers looking to trade out of positions ahead of the January renewal season, sources told Trading Risk.

Cat bond prices trailed off by 0.62 percent in the final two weeks of October, as the market faced a potential loss from Mexico's Hurricane Patricia.

The Swiss Re Cat Bond Price Return Index has almost reached the values recorded at the start of 2015 after posting a 1.7 percent upswing since mid-July.

TigerRisk has been marketing a derivative product that triggers off a Lloyd's index, which could offer ILS funds exposure to a range of specialty business written within the London market, Trading Risk understands.