September 2015/1

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.

ILS spreads began their seasonal tightening relatively late into the hurricane season this year, with widening persisting into May and June.

American International Group (AIG) received orders of up to $900mn for its Bellemeade Re mortgage insurance securitisation transaction, which eventually closed at $299mn, the company told Trading Risk.

ILS investors have queried several changes to cat bond terms and conditions this year, as Trading Risk has previously reported.

Two earthquake cat bonds interrupted the summer break for ILS investors, offering relatively higher spreads than the low-yielding quake deals that have predominated this year.

The £12.9bn BBC Pension Scheme terminated its mandate with Nephila Capital in the financial year ended 31 March 2015, according to the fund's latest annual report.

2015 might be the alternative reinsurance market's chance for a break from the spotlight during the industry's annual Monte Carlo Rendez-Vous.

Consolidation in the reinsurance industry is contributing to an uptick in demand for retro cover in 2015, although the impact is expected to be short-lived.

Questions remain around whether the ILS market will be able to maintain its momentum heading into the final quarter of 2015.