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  • Bermudian reinsurer PartnerRe's ILS losses have mounted to $54mn for the first nine months of 2011, making up just under 4 percent of its total $1.403bn catastrophe losses for the period.
  • Munich Re has closed its latest Queen Street cat bond at $100mn, a third above its $75mn target, according to a ratings report from Standard & Poor's.
  • A panel of (re)insurance industry executives advised reinsurance buyers to limit exposure to capital market capacity, questioning the long-term commitment of some investors in the sector
  • A panel of (re)insurance industry executives advised reinsurance buyers to limit exposure to capital market capacity, questioning the long-term commitment of some investors in the sector.
  • The California Earthquake Authority (CEA) plans to add to its Embarcadero Re cat bond issuance programme in the first quarter of next year, Trading Risk can reveal.
  • ILS investors do not expect the earthquake that struck eastern Turkey over the weekend to threaten the EUR50mn Ianus Capital bond.
  • Swiss Re is seeking to raise $50mn from a new rated Successor cat bond issue covering US hurricane and European wind risk as well as an unrated tranche of notes exposed only to US hurricane perils.
  • A US subsidiary of Prudential Financial has closed a $2bn letter of credit deal with a number of banks in the largest life securitisation since the 2008 financial crisis.
  • Convergence executive Des Potter has joined GC Securities as managing director and head of the investment banking unit's M&A advisory division. His new appointment follows the completion of a six-month gardening leave after his departure from rival broker Aon Benfield.
  • Swiss Re Capital Markets hopes to attract more institutional investors to back industry loss warranty (ILW) capacity as it mulls setting up a platform to transform the derivative contracts into bond format, managing director Judy Klugman has said.