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  • The California Earthquake Authority (CEA) has launched a sequel to its August debut cat bond, seeking $150mn from the latest Embarcadero Re transaction.
  • The secondary ILS market had a strong trading quarter in the fourth quarter of 2011, buoyed by strong new issuance on the primary market, broker Aon Benfield Securities says in its latest market review.
  • It's a bright forecast for 2012 as the annual Trading Risk Market Survey showed the convergence industry expects to continue to benefit from new investor inflows, rising pressure on property catastrophe rates and regulatory change.
  • Willis has promoted convergence market pioneer John Cavanagh to chief executive of the broker's reinsurance arm Willis Re
  • Swiss-based alternative investor Twelve Capital has expanded its partnership with Bank Sarasin to sell a new ILS fund
  • Major cat fund manager Clariden Leu has re-opened its flagship Cat Bond Fund to new capital inflows, seven months after closing its doors in May last year in the face of weak ILS issuance
  • The ILS market continues to grow its investor base, drawing in a wider, more geographically balanced pool of investors, Swiss Re says in its annual review of the market
  • Collateralised reinsurer Catco deployed $1.25bn of retrocession capacity in the 1 January renewals through its Master Fund, according to a stock exchange announcement
  • Leading ILS fund manager Nephila Capital won a $100mn mandate from an Oregon state pension fund, taking it near the $5bn assets under management mark
  • Credit Suisse Asset Management (CSAM) has reached $4.4bn insurance-linked assets under management and launched a number of new funds targeting less liquid investments, Trading Risk can reveal