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September 2008/1
  • In-storm trading gathers pace from a standing start
    Catastrophe futures trading platforms have reported some volatility in the first live season of trading, with more than $135mn limit equivalent of exchange traded contracts, and “multiples&rdqu
    31 August 2008
  • Those lazy summer days...
    Just three deals were completed over the late summer months, with total issuance volume of $820mn, taking the 2008 running total of insurance linked securities (ILS) issuance to circa $3.6bn. The tra
    31 August 2008
  • 2008 secondary trading volumes hit $3bn
    Secondary trading of insurance linked securities (ILS) reached $3bn to end- August, with “brisk, continuous trading” noted in the sector. For the first time in the history of the secondar
    31 August 2008
  • Towers Perrin launches capital markets unit
    US reinsurance broker Towers Perrin has launched a capital markets operation specialising in risk-linked securities, retirement risk transfer transactions and asset risk management services. The unit
    31 August 2008
  • Stoneheath downgraded
    Stoneheath Re, the Cayman Islands insurance special purpose vehicle established in 2006 by Bermudian (re)insurer XL Capital, has been downgraded by ratings agencies Fitch Ratings and AM Best. In resp
    31 August 2008
  • Weather market embraces cat futures
    Specialist environmental inter-dealer broker Evolution Markets has launched a new division for trading and structuring catastrophe derivatives following its entry into the weather derivatives market.
    31 August 2008
  • JPMorgan longevity swap unlocks UK annuity market
    Investment bank JPMorgan has closed a £500mn long-duration longevity derivative transaction with life insurer Canada Life, in a deal that could open the multi-billion pound UK annuity market to the c
    31 August 2008
  • Macro funds sell out of ILS
    Brokers in the secondary market for insurance linked securities (ILS) executed a number of bid lists in August, as macro hedge funds chased higher returns in other, crisis-struck sectors of the capit
    31 August 2008
  • Hannover invests $50mn in Secquaero ILS fund
    German reinsurer Hannover Re is and supporting former executive Dirk Lohmann with a $50mn investment in his new Secquaero insurance linked securities (ILS) fund, according to sources close to the dea
    31 August 2008
  • RenRe terminates sidecar
    Bermudian reinsurer RenaissanceRe Holdings Ltd has formally terminated its retrocessional sidecar Starbound Reinsurance II Ltd. The move prompted ratings agency AM Best to withdraw the “a&rdquo
    31 August 2008
  • Carvill trades on $4bn FHCF deal
    Reinsurance broker Carvill saw growth in trading in its hurricane index on the Chicago Mercantile Exchange (CME) on news of the contingent liquidity deal struck between the Florida Hurricane Catastro
    31 August 2008
  • RMS teams with Dresdner in cat swap contract
    Dresdner Kleinwort is marketing a catastrophe derivative contract in the capital markets, based on cat modelling firm Risk Management Solutions’ (RMS) new Paradex European Windstorm index, Trad
    31 August 2008
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