Secondary trading

The secondary cat bond market cleared the first Gator Re trade in two months this week, as the bond's price tumbled in response to aggregate claims rising near its trigger

There continued to be more buyers than sellers on the secondary cat bond market in June, which kept prices relatively firm

A downturn in industry loss warranty (ILW) pricing has limited cat bond lite issuance activity in 2016, with a couple of recent deals breaking the dearth of activity

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Risk-adjusted cat bond spreads have dipped below 2015 yields for the first time this year, according to RMS data.

Cat bond prices continued to edge upwards in May, amid intense buyer demand when there was very little for sale.

TigerRisk's capital markets arm has received regulatory approval to open a secondary trading desk covering a range of ILS products, which will be headed by Patrick Gonnelli

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Strong bidding interest on the secondary cat bond market helped to counteract the influence of seasonality in early April

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