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Ianus cat bond shrinks 50% on low pricing
Insurance-linked securities (ILS) investors have drawn a line in the sand on pricing of non-US peak peril cat bonds, committing only 50 percent of the original EUR100mn capital sought for Munich Re
01 June 2009
RenRe revives Florida sidecar with $60mn Timicuan Re II
Bermudian reinsurer RenaissanceRe has relaunched its defunct Timicuan Re sidecar with $10mn seed capacity and $50mn of third party equity investment, despite difficult market conditions for the vehic
31 May 2009
$250mn Residential Re cat bond closes
Military mutual insurer and insurance-linked securities (ILS) stalwart USAA’s 13th consecutive cat bond, Residential Re 2009, has closed after upsizing again to $250mn. Res Re 2009 started lif
28 May 2009
Houghton out as Aon Benfield freezes dedicated cat fund
Global broker Aon Benfield has suspended its fundraising efforts for new investment management firm Global Insurance Strategies LLC (GIS), as it concentrates on Benfield-backed cat fund manager Junip
26 May 2009
OCIL denies Avalon asbestos claims dispute
Bermudian energy industry mutual Oil Casualty Insurance Ltd (OCIL) has denied there is any dispute over asbestos-related claims on its 2005 excess liability cat bond Avalon Re. “No asbestos-re
25 May 2009
Cat futures pricing drops 10% as wind season approaches
Catastrophe futures pricing has softened up to 10 percent for US wind contracts in recent weeks, as traders seek to deploy capital ahead of the North Atlantic hurricane season which starts on 1 June,
20 May 2009
ISDA launches standard docs for US wind futures
After two years of market consultation, the International Swaps and Derivatives Association (ISDA) has launched a standard template for trading US wind event futures. ISDA – the global trade as
20 May 2009
Res Re increases yet further to $250mn as pricing finalised
Goldman Sachs, bookrunner and lead manager on USAA’s thirteenth cat bond – Residential Re 2009 – has confirmed pricing on the further upsized $250mn transaction. Goldman Sachs, whic
20 May 2009
Swiss Re launches third Calabash cat bond for ACE
Swiss Re is launching a third cat bond on behalf of ACE American Insurance Co – the $100mn US wind and quake transaction Calabash Re III Ltd – just in time for the start of the US wind se
20 May 2009
HSBC appoints new insurance solutions head
HSBC bank has hired ex-Morgan Stanley executive Simon Hotchin to head its insurance solutions group, which recently acted as arranger of the collateral management mechanism for Allianz’s Blue F
19 May 2009
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