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The GAM FCM Cat Bond Fund managed by Fermat Capital has once again topped the table of annual returns for the group of ILS funds tracked by Trading Risk
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Average premiums in the ILS and ILW market inched up 2 percent in the fourth quarter but ended the year down 17 percent from their end-March 2012 peak, according to estimates from broker dealer Lane Financial
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JLT Re has appointed former BMS broker Paul Thyer as a partner in its non-marine treaty team
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The industry loss warranty (ILW) market had a year of two halves in 2012, starting with strong trading amid a dislocated retro renewal at 1 January 2012, before volumes and prices fell dramatically at mid-year as indemnity capacity rebounded.
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Collateralised capacity made its mark in this year's property catastrophe renewals as market commentators remarked on the success of convergence.
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With a $2bn-$3bn marine industry loss estimate now a significant component of the overall Sandy burden, the convergence market is looking for possible sources of loss leakage.
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Hurricane Sandy's unique profile will test how well the PCS industry loss compilation service covers certain claim categories, as buyers of industry loss-based covers wait to see where the event will settle.
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Guy Carpenter has hired former Goldman Sachs trader Sung Yim to support its launch of a secondary trading desk serving the ILS market, Trading Risk can reveal.
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Industry loss warranty (ILW) capacity of $150mn-$200mn could pay out if Superstorm Sandy is deemed a $15bn insured loss event, according to sources.
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Guy Carpenter has hired former Goldman Sachs trader Sung Yim to support its launch of a secondary trading desk serving the ILS market, Trading Risk can reveal.
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AJ Gallagher has bought the boutique London-based reinsurance broker Execution Re from its Portuguese parent, Banco Espirito Santo, sister publication The Insurance Insider reported.
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Credit Suisse is carving out a side pocket of reserves for Sandy claims worth 5 percent of the net asset value of the £40mn DCG Iris fund, according to a statement from the London-listed fund.
