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Validus seeks to stopper tax cascade
Validus is suing the US government for a tax rebate of more than $435,000 in a test case to determine whether foreign excise tax on reinsurance should be treated as a "cascading tax", court filings show
15 February 2013
Successor X4 on hook
Swiss Re Successor X (2011-3) cat bond are within a fraction of triggering after PCS released its second loss estimate for Hurricane Sandy, Trading Risk understands
15 February 2013
Trading Floor Interview: Dan Bergman, AP3
Swedish pension fund AP3 was an early mover in the ILS market. The fund's head of ILS Dan Bergman tells Trading Risk why its capital can be counted on to stay the course
15 February 2013
Swiss Re keeps mortality redemption options open
Swiss Re will continue placing redemption clauses on its Vita Capital extreme mortality cat bonds after it decided to redeem the $125mn Vita Capital IV early
15 February 2013
Cat bonds price up
Buying demand on the secondary ILS market remains strong but there have been few trading opportunities in recent weeks as cash-flush investors await new issuance opportunities
15 February 2013
Top 10 specialist investors muster $28bn
The top 10 ILS fund managers have added $7bn to their combined assets under management over the past year and now control almost $28bn of funds, according to investor data compiled by Trading Risk.
15 February 2013
Bonder sets up desk at Maxim
Former Rochdale Securities fixed income and ILS trader Craig Bonder has moved to boutique investment firm Maxim Group, after Rochdale came to a standstill following a $1bn rogue trade incident last year
15 February 2013
First longevity swap tipped for 2013
The longevity market is set to see its first transaction of 2013, following on from Aegon's longevity swap with Deutsche Bank last March, Trading Risk understands
15 February 2013
Nephila entry to Lloyd’s a mark of ultimate convergence
Nephila Capital's new syndicate manager Adam Beatty said the cat reinsurance fund manager's move into the Lloyd's market shows how far the lines between traditional and alternative market reinsurers have blurred in recent years.
15 February 2013
Tornado risk back in Skyline
Just one private cat bond has been placed in the last month but ILS investors still expect 2013 issuance to be around the $6bn mark as they await new deals
15 February 2013
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