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Moody's downgrade watch on Avondale
Moody’s Investors Service has maintained the ratings for Bank of Ireland’s 2007 life ILS Avondale Securities on review for possible downgrade. Moody’s said it’s review of the
12 August 2009
Spread too thin?
The received wisdom is that 2009 insurance-linked securities (ILS) issuance has been held back by the mismatch between capacity in the alternative and traditional reinsurance markets. It is difficul
12 August 2009
OCIL offers to buy back $50mn of Avalon Re notes for $42.5mn
Oil Casualty Insurance Co (OCIL) has launched a dutch auction to repurchase up to $50mn of the outstanding $135mn Class B notes on its 2005 excess liability cat bond Avalon Re, for up to $42.5mn. The
09 August 2009
IFEX launches two new US wind contracts
IFEX has added to its suite of event-linked futures, listing Eastern seaboard and North East US tropical wind contracts on the Chicago Climate Futures Exchange (CCFE). IFEX – which trades indus
30 July 2009
Hannover's EUR150mn Eurus II closes; takes 2009 issuance to $1.8bn
Hannover Re’s latest catastrophe bond, Eurus II, closed yesterday (29 July), providing the reinsurer with EUR150mn of European windstorm cover and taking overall 2009 cat bond issuance to $1.8b
29 July 2009
$200mn Parkton Re latest cat bond to upsize
Parkton Re Ltd, the cat bond put together for North Carolina’s state wind pool, has become the latest 2009 issue to upsize as it increased from a planned $125mn to $200mn on closing. The transa
28 July 2009
ILS spreads should shrink in Q4
Notwithstanding an active 2009 catastrophe season, the spreads on insurance-linked securities (ILS) are likely to tighten later this year, in what is typically an active time for issuance. Accord
26 July 2009
Stark Investments team in management buy-out
The reinsurance and risk-linked investments team (RLI) at alternative asset manager Stark Investments is spinning out of the mothership in a management buy-out, led by portfolio managers Tony Rettino
21 July 2009
CIG Re head McKeown joins Guy Carpenter
New Castle and CIG Re head Chris McKeown joined global reinsurance broker Guy Carpenter in July as CEO of the firm’s global analytical and specialty practices, Trading Risk understands. McKeown
21 July 2009
Cat bond downgrades on revised S&P criteria
Ratings agency Standard & Poor’s (S&P) has downgraded six cat bonds and placed a further four on CreditWatch with negative implications in a move which stems from a hardening of its rating crit
21 July 2009
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