September 2008/1

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

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

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

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

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

ILS activity “slowed”, during the July reinsurance renewal season, with maturing cat bond capacity exceeding new issues by $700mn, according to broker Willis Re. In its mid-year reinsuran

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

A number of Eurowind cat bonds have been marked down in price on the secondary market, after failing to find buyers, according to senior market sources. Despite traders reporting the majority of cat

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

Aon Corp has triumphed over its rival Guy Carpenter for the £844mn prize of Benfield Group, including its specialist corporate finance firm Benfield Advisory. If the acquisition is completed, then th

Derivatives broker GNI Touch is offering a service to UK high net worth individuals to enable them to trade IFEX event linked futures on the Chicago Climate Futures Exchange (CCFE). The target audien

Swiss Re Capital Markets has won a $1.5bn mandate to securitise US earthquake risk for the California Earthquake Authority (CEA) in its latest – and by far the largest – deal, Trading Ris