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The Royal Bank of Scotland (RBS) and US broker-dealer Guggenheim Securities are both planning to launch transformer vehicles in Bermuda.
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The Financial Services Authority (FSA) has voiced "significant concerns" about how life settlements products are sold to retail investors saying that the investment risk to consumers is "often downplayed", according to Peter Smith, head of investment in the UK regulator's policy department.
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Strong 2009 performances and financial markets stabilisation have funnelled additional capacity into the convergence sector, with Axa and Q Re deploying new funds at the start of 2010.
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Cat bond holders noted strong price increases in January, with an increasing number realising gains by selling at above market price, according to sources.
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With more bad news emerging from the insurance-linked derivative sector this month, one could be forgiven for reaching for the quill and penning the obituary of exchange-traded (re)insurance risk.
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Andreas Kusay, ex-Manulife executive and mooted head of Equinox – the proposed $100mn+ collateralised retro vehicle – has joined cat futures trading platform IFEX as a consultant to promote its event-linked futures (ELFs).
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Newly-launched insurance-linked investment firm Elementum Advisors LLC has attracted $125mn of fresh capital to the sector from a New Zealand pension fund.
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German reinsurer Hannover Re has expanded its K6 sidecar vehicle by $152mn, to offer $329mn of total capacity for Hannover Re’s catastrophe retro business in 2010.
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ILS Value Advisors portfolio manager Samuel Scherling will launch $25mn Red Vega ILS fund as part of Partners Group spin-off investment manager, Alternative Beta Partners (ABP), Trading Risk can reveal.
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AXA Investment Managers (IM) has launched its first public catastrophe fund, the $100mn Gaia, underlining investor interest in insurance-linked assets.
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Aon Benfield-backed catastrophe investment manager Juniperus Capital Ltd (JCL) has secured a $30-40mn equity investment from Japanese conglomerate Itochu Corporation of Tokyo - a move that will boost marketing efforts in Asia.
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Longevity specialist Centurion Fund Managers has formally launched its fourth open-ended longevity fund - and the first in the market to combine macro and micro longevity, according to the firm.
