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A mid-October meeting will determine the future business plan for trading platform IFEX, which could launch European windstorm derivative products for this year's season.
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Industry loss warranty (ILW) buyers have been seeking to protect 2010 profits from potentially costly Q4 catastrophes by purchasing short-dated contracts to year-end, Trading Risk can reveal.
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Trading platform IFEX is preparing to launch a range of European windstorm derivatives this year as part of a wider plan to expand its product base.
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Swiss Re traders Patti Guatteri and Mitchell Mintz walk us through the opportunities for trading (re)insurance risk during a live storm
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Fellow Bermudian Platinum Underwriters confirmed it bought a $65mn ILW in an earnings conference call, saying both hurricane forecasts and capital management reasons drove the purchase.
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The Industry loss warranty (ILW) market is closely watching the tail-end of the US wind season in order to position pricing for 1.1, according to broker Aon Benfield.
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Broker Willis has cleared a US wind futures trade on the IFEX platform at the Chicago Climate Futures Exchange (CCFE) for the first time yesterday (19 August), in a $1mn block trade.
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A $270,000 US wind futures contract traded yesterday on the IFEX platform at the Chicago Climate Futures Exchange (CCFE).
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Secondary trading spreads for US wind and multi-peril catastrophe bonds have risen to levels near the peaks last seen in 2009, as spreads on non-peak perils have tightened to 2007 levels, according to Swiss Re.
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Total capital invested in the catastrophe bond market has dropped by $693mn since the end of last year despite a bumper second quarter for new issuance, according to Guy Carpenter figures.
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The first eastern seaboard wind futures contract has traded on the Chicago Climate Futures Exchange (CCFE), a year after the product was first launched by IFEX.
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Buyers of lower trigger level marine industry loss warranties (ILWs) are struggling to find affordable cover as sellers effectively take the contracts off the counter in the wake of Deepwater Horizon, Trading Risk can reveal.
