September 2011/1

A portion of MultiCat Mexico's $50mn Class C notes have changed hands in the secondary cat bond market as Hurricane Jova gains speed on its approach to Mexico's Pacific coast, Trading Risk understands.

Loss compilation agency Property Claims Service (PCS) has placed insured losses from Hurricane Irene at $3.65bn, Trading Risk understands.

Japanese cooperative Zenkyoren's escalating loss estimate from the Great Tohoku earthquake in March will likely strike the retrocession market hardest, Trading Risk has learned.

Modelling firm RMS has published a $2.82bn Paradex index value for the US losses stemming from Hurricane Irene, which is unlikely to trigger Flagstone Re's Montana Re 2010 notes, Trading Risk understands.   

MyLotto24, a UK company offering online bets on foreign lotteries, has closed a EUR70.5mn jackpot win-triggered bond with a handful of ILS investors, in a move that diversifies the sector from traditional insurance products.

Catastrophe modelling firm AIR Worldwide (AIR) released updates to its European wind and earthquake cat risk models this week, with both models having been expanded to include additional countries.

Da Vinci losses hit $114mn; Arch takes $5mn loss from Aeolus; Italian manager buys into Eskatos venture

Credit Suisse Asset Management took in more than $1bn of new funds over the first half of the year to become one of the leading beneficiaries of investor interest in the ILS market.

2011 cat losses shook the ILW market. In our regular quarterly review of the sector, Willis Re executive director Henry Kingham looks at the longer-term effects...

Summer trading in exchange-traded catastrophe derivatives has slowed this year as buyers got in earlier in the season after a bruising year of catastrophe losses.

The departure of pivotal Ifex executive Billy Welch from the firm's new owner, the IntercontinentalExchange (Ice), has prompted speculation that the industry loss warranty (ILW) trading platform will shortly re-launch in a new home.

Hurricane Irene carried a CME Hurricane Index (CHI) value of 9.3, according to preliminary estimates from modeller Eqecat, putting several derivative contracts traded this year almost halfway towards their trigger.