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  • Total capital invested in the catastrophe bond market has dropped by $693mn since the end of last year despite a bumper second quarter for new issuance, according to Guy Carpenter figures.
  • Industry loss warranty (ILW) pricing has been "unattractive" for both US and international contracts but the Deepwater Horizon oil spill is fuelling rate on line increases, Bermudian Flagstone Re said in an investor conference call yesterday (3 August).
  • Flagstone Re's Mont Fort Re sidecar has taken a $22.9mn industry loss warranty (ILW) loss from the Deepwater Horizon oil spill, saving Flagstone Re's overall Q2 result from heading into the red.
  • Ex-Horizon21 fund manager Urs Ramseier is preparing to launch his new venture through a Swiss-headquartered firm that will be known as Twelve Capital, Trading Risk can reveal..
  • Risk assessor Verisk Analytics has launched a new catastrophe index for US hurricane risk to provide a more tailored view of insured loss estimates.
  • The first eastern seaboard wind futures contract has traded on the Chicago Climate Futures Exchange (CCFE), a year after the product was first launched by IFEX.
  • Bermudian reinsurer RenaissanceRe has not renewed its $60mn Timicuan Florida wind sidecar vehicle for 2010, a move which contributed to a $70.4mn year-on-year drop in Q2 catastrophe premium income for the firm.
  • Reinsurer Swiss Re has signed a three-year deal providing the Alabama State Insurance Fund with hurricane cover, in the first US state government reinsurance contract to use parametric triggers.
  • Catastrophe bonds should escape the uncertainty about using credit ratings in offer documents as ratings agencies face up to financial reforms included in the Dodd-Frank bill signed into US law last week.
  • Forecaster Weather Services International (WSI) has downgraded its forecasts for the 2010 hurricane season after a relatively quiet June and July.