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July 2008/1
  • Deutsche to test ILS hunger with LAZR launch
    Deutsche Bank is marketing a new trigger mechanism for insurance linked securities (ILS), with a $120mn Florida-only wind bond as the first transaction, Trading Risk can reveal. The LAZR transaction
    06 July 2008
  • Swiss Re closes $150mn Vega CRO
    Swiss Re successfully closed its $150mn Vega Capital Ltd collateralised risk obligation (CRO) transaction in June, partly replacing the $839mn of its various Successor bonds, according to sources clo
    06 July 2008
  • Nephila excited by Man's arrival
    ILS pioneer Nephila Capital says its tie-up with Man Group will fuel greater interest in the traded (re)insurance risk sector because it will bring new investors to the market. Last month, the hedge
    06 July 2008
  • Monoline woes lead to life downgrades
    Life insurer UNUM Group had two of its life securitisations downgraded in June by rating agency AM Best following the downgrade of beleaguered monoline insurer MBIA. Ratings on both the $130mn 2006 c
    06 July 2008
  • S&P Ballantyne Re action
    Rating agency Standard & Poor’s (S&P) has lowered its senior debt rating on the Class A-1 notes of beleaugured Scottish Re’s Ballantyne Re life securitisation. S&P lowered the XXX reserve
    06 July 2008
  • Carvill trades $50mn on CHI
    Trading platform Carvill Hurricane Index (CHI) has seen “around $50mn” of notional volume traded on its Chicago Mercantile Exchange (CME) platform this year, the firm’s joint CEO, J
    06 July 2008
  • RMS to trade two indices in OTC markets; more in pipeline
    Risk Management Solutions (RMS) has launched its second natural catastrophe index under the Paradex banner, with two more in the pipeline, says the risk modelling firm. The index, which RMS says is t
    06 July 2008
  • Hannover's ILS team closes hybrid Globe Re
    Hannover Re’s new dedicated insurance linked securities (ILS) team has closed $133mn Globe Re – choosing an innovative deal as its first since launching in January. Globe consists of a pr
    06 July 2008
  • Aon next to target ILS fund
    Chicago-headquartered Aon Corp is marketing a dedicated insurance linked securities (ILS) fund, which plans to invest in a range of insurance linked alternative investments, Trading Risk understands.
    06 July 2008
  • World Bank embraces weather derivatives
    The World Bank is moving ahead with plans to use the weather derivative market as part of a comprehensive strategy to reduce the impact of drought in developing countries. The Bank will intermediate
    06 July 2008
  • Florida flux boosts ILW trading
    Pricing and trading in the industry loss warranty (ILW) market has boomed following mooted changes in the Florida state’s cat fund in recent months. It is understood that the cat fund and the s
    06 July 2008
  • ILS defies credit crunch
    The insurance linked securities (ILS) sector is a rare jewel that stands out from the credit market turmoil, according to market leaders speaking at Trading Risk’s inaugural Executive Briefing
    06 July 2008
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