August 2012/1

Just two cat bonds have been issued so far in the third quarter, which is typically a quiet point in the market cycle, after a flood of issuance in the first half of 2012.   

Trading activity in the industry loss warranty (ILW) market has picked up since 1 August as buyers seek short-term cover for the rest of the year against US hurricane risk as well as European windstorm, Japanese typhoon and other perils, according to JLT Re senior vice president Greg Habay.   

Hurricane Isaac stirred only a tentative spree of livecat trading in the $125mn Pelican Re indemnity bond from cedant Louisiana Citizens Property Insurance, Trading Risk understands.   

The ILS market remains on track to finish 2012 strongly even if recent property cat rate increases plateau, according to industry experts surveyed by Trading Risk before the reinsurance industry's annual gathering.  

I've only been to the Monte Carlo Rendez-Vous twice, but already the words Monte Carlo and madness have been firmly linked in my mind when it comes to this time in the reinsurance season.

Hannover Re's groundbreaking Fac Pool Re securitisation is facing the prospect of major losses as a legal dispute begins over some of the business ceded into the pool, Trading Risk understands.

Credit Suisse Asset Management expects to take a 0.2 percent hit to the net asset value (NAV) of its Low Volatility Plus Iris fund as a result of Hurricane Isaac, according to a disclosure from the listed DCG Iris fund.