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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.
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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.
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Growth in the industry loss warranty (ILW) market in the past year has led a number of brokers to bolster their dedicated expertise in the insurance derivative sector.
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Some "window" industry loss warranty (ILW) deals were among the handful of livecat trades cleared as Hurricane Irene bore down on the east coast of the US last week, Trading Risk can report.
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As Hurricane Irene bears down on the East coast of the US, brokers have transacted livecat industry loss warranty
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Goldman Sachs trader, Sung Yim, has left the firm after four years specialising in insurance linked securities and industry loss warranties (ILW), Trading Risk can reveal.
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Ratings agency Standard & Poor's says third quarter issuance from the insurance-linked security (ILS) market are on track to beat historical norms for the period, signalling a potential change to the normal sales cycle.
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Collateralised reinsurer Aeolus has posted better than expected catastrophe losses from the 2011 first-quarter disaster toll but its investors still took a rare loss from their investment.
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Japanese insurers are taking more interest in capital market reinsurance alternatives after seeing the Muteki bond pay out following the March earthquake disaster, broker Aon Benfield Securities said in its second quarter report on the ILS market.
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Trading Risk explores how ILS fund managers are handling the legal and reputational risks of dicing up their funds to splice out catastrophe losses
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Climate Exchange founder Neil Eckert has held talks with the Chicago Mercantile Exchange about hosting the Ifex exchange-traded catastrophe derivatives but the proposed deal has stalled, Trading Risk understands.
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The brutal toll of H1 catastrophe events has made 2011 the costliest year on record for cat-related economic losses with six months still to run, data from Munich Re's NatCat service shows.
