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  • Insurance entrepreneur Neil Eckert is enacting a management buy-out of the catastrophe derivative trading platform IFEX, Trading Risk understands.
  • Quake products are leading the rise in industry loss warranty (ILW) prices, with California prices up by two thirds in the wake of the catastrophic 11 March Japanese earthquake, Trading Risk understands.
  • FSA blocks triple-X loophole; BNPP in EV deal; Pension funds may offload up to £20bn of risk
  • Bankers and reinsurers are confident they won't lose out from the precedent set by London-listed insurer Legal & General, which bypassed other suppliers to complete a transfer of triple-X redundant reserve reinsurance earlier this year.
  • Firms seeking reinsurance solutions for their triple-X and A-XXX redundant reserves are pushing for better pricing and longer-dated deals, as the number of bankers chasing their business rises.
  • Casualty index launched; K6's quake knock; Crystal Credit redeemed; Aspen's collateral protection
  • Hedge fund-backed reinsurer Greenlight Re reported a 57 percent year-on-year drop in net income to $90.6mn for 2010.
  • Risk and insurance management specialist Kane Group has purchased leading cat bond administrator HSBC Insurance Management (HIM) in a private equity-backed deal worth $27.5mn.
  • The California Earthquake Authority (CEA) is working to source $150mn of cat bond capacity from the capital markets after a 15-month hiatus from the ILS sector.
  • US coast faces greater hurricane threat; Guy Carp gains CCRIF account; Quakes make 2010 7th costliest cat year; Industry Euro wind exposure up 5%: Perils