May 2009/1

AM Best has taken rating actions on various tranches of Merrill Lynch’s innovative 2007 collateralised debt obligation (CDO) issue, Dekania. Dekania allowed smaller US and European carriers, in

S&P has withdrawn its ratings on Arch Reinsurance’s $256mn credit facility Flatiron, Hannover Re’s $200mn sidecar, Kepler Re, and Harbor Point’s $125mn vehicle Bay Point, while Mood

A surge in recession-related credit losses has “increased the default possibility” of Swiss Re’s $252mn credit reinsurance securitisation, Crystal Credit, prompting Standard & Poor

S&P has lowered its senior debt rating on Scottish Re’s life transaction Orkney Re II’s series A-2 notes to CC from CCC, citing declining mark-to-market asset values and doubts over the v

Credit Suisse Asset Management (CSAM) is set to launch a $65mn dedicated life insurance linked securities (ILS) fund, demonstrating the resurgent popularity of life risk trading. The fund – cal

Despite mutterings of discontent in some corners of the investor community on loss-stricken liability cat bond Avalon Re, secondary market pricing still reflects only an anticipated partial loss on t

US military mutual insurer and ILS stalwart USAA has increased the size of its thirteenth consecutive cat bond, Residential Re 2009, by $90mn - to $240mn - Trading Risk can reveal. Goldman Sachs, whi

Industry loss warranty (ILW) and catastrophe derivatives trading volumes are “considerably” lower than last year, stifled by high prices and the effects of contagion from the financial ma

A second Lehman Brothers-backed catastrophe bond is in default after issuer Ajax Re failed to repay the principal at the 8 May redemption date, according to AM Best which downgraded and withdrew its

The recent outbreak of swine flu poses little immediate threat to the sector’s three extreme mortality cat bonds, despite the global death toll reaching 74. The World Health Organisation (WHO)

Swiss Re has confirmed that it will cease carbon trading and close its emissions trading desk, in a move first revealed by Trading Risk. The reinsurance giant is understood to also be moving its natu

PERILS AG, established this year to aggregate and provide industry-wide European catastrophe insurance data, has estimated property insurance market losses caused by windstorm Klaus of EUR1.55bn. The