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  • Sarasin Fund Management has closed its Cat Bond Fund to new subscriptions after taking in $100mn in its first four months.
  • Hedge fund-backed reinsurer SAC Re is nearing the end of the fundraising process and is preparing to launch, reports sister title The Insurance Insider
  • GAM has placed a soft close on the Star Cat Bond fund, which is overseen by leading ILS fund manager Fermat Capital Management, with new subscriptions subject to a waiting list
  • Munich Re has launched a new dual-peril Queen Street Re cat bond in the first issuance to hit the ILS market since hurricane season opened, according to a ratings agency note.
  • The Oak Leaf Re private cat bond placed by Towers Watson Capital Markets (TWCM) has doubled in size at its first renewal, the broker announced today (28 June).
  • Defying conventional wisdom, debt from specialist credit funds will still support sidecars, according to panellists at the CFO Forum hosted in London yesterday (27 June) by sister publication The Insurance Insider
  • Dexion Capital has raised £40.1mn, less than half the targeted £100mn, for its new listed ILS fund DCG Iris
  • Trading Risk is delighted to announce the winners of our 2012 Awards, who were revealed at a ceremony held in London last night attended by more than 200 convergence market luminaries
  • Fermat Capital Management co-founders John and Nelson Seo shared the Outstanding Contributor of the Year title at the Trading Risk Awards in London last night (21 June)
  • Bermudian (re)insurer Argo Group has hired former BNP Paribas convergence expert Mark Gibson to the new position of director of alternative risk capital