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March 2010/1
  • S&P rates Merna Re II; update
    Ratings agency Standard & Poor's (S&P) has allocated a preliminary rating of BB+ to State Farm's Merna Re II transaction, Trading Risk understands.
    24 March 2010
  • Swiss Re prices $120mn Successor X; pulls top layer
    Swiss Re has priced three of the original four tranches of its latest Successor cat bond, offering the reinsurer $120mn of multi peril cover over three years at less than original price guidance, Trading Risk can reveal.
    24 March 2010
  • State Farm to issue $700mn US quake notes
    State Farm is in the final stages of a $400mn-$700mn cat bond issuance that would partially replace the soon-to-mature Merna Re transaction, Trading Risk understands.
    22 March 2010
  • Hannover: “longevity will drive reinsurance market growth”
    Ulrich Wallin, CEO of Hannover Re has predicted that the longevity risk transfer market will be key to growth for property and casualty reinsurers.
    15 March 2010
  • European trade body pleads for Solvency II changes
    Beefed up capital requirements due to come in with Solvency II will make the insurance industry less not more stable according to European insurance and reinsurance trade body, the CEA.
    15 March 2010
  • Nephila attracts $340mn UK pension fund cash in 2009
    Bermudian ILS investment manager Nephila Capital sourced investment totalling $340mn from UK pension funds in the second half of 2009.
    11 March 2010
  • Reinsurers bear brunt of 1Q cat as aftershocks hit Chile
    Munich Re, Swiss Re and Hannover Re have estimated combined losses of more than EUR1bn from the Chilean earthquake and windstorm Xynthia that struck on 27 and 28 February.
    11 March 2010
  • CCRIF forms UN partnership
    The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has formed a partnership with the UN Economic Commission for Latin America and the Caribbean (UNECLAC) to coordinate disaster reporting to the area's governments.
    10 March 2010
  • JP Morgan to market Securis fund
    Securis Investment Partners has agreed that JP Morgan will market its flagship Securis 1 fund.
    10 March 2010
  • Parametric insurance launched for US drought
    US weather speciality insurer Vortex Insurance Agency has launched a parametric drought insurance product for US agricultural firms.
    10 March 2010
  • European (re)insurers bounce back to profit in 2009
    Full-year results to date for 2009 show a year of solid recovery for the (re)insurance industry, with strong underwriting performance and a return to profit.
    10 March 2010
  • FSA joins life settlements debate
    UK regulator the Financial Services Authority (FSA) delivered a stern warning to the life settlements market about mis-selling risks to retail investors, while the American Council of Life Insurers (ACLI) has called for a ban on life settlement securitisation - raising concerns about the industry's growth and development.
    10 March 2010
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