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Allianz' Blue Coast on negative watch for Ike loss
Ratings agency Standard & Poor’s (S&P) has placed the entire $120mn of notes on Allianz’s 2008 Blue Coast cat bond on negative watch, due to fears that hurricanes Ike and Gustav will tr
25 March 2009
Willis hires head of new capital markets unit
Willis Group has appointed Tony Ursano, the former vice chairman of Banc of America Securities’ financial institutions arm, to become CEO of Willis Capital Markets and Advisory Services. The
24 March 2009
Allianz to issue $150mn cat bond Blue Fin II
Aon Benfield and Goldman Sachs have teamed up to manage a $150mn US wind and quake cat bond for Europe’s largest insurer Allianz, Trading Risk can reveal. The notes – Blue Fin II –
24 March 2009
$3bn cat bond issuance expected for 2009
The cat bond market is expecting $3bn of new issuance in 2009, despite a pricing “divergence” between insurance-linked securities (ILS) and traditional reinsurance that is making ILS look
23 March 2009
$10mn trade on new CHI Gulf and Florida wind future
The Chicago Mercantile Exchange (CME) has facilitated a $10mn trade on its new 2nd event Gulf and Florida hurricane futures contract just days after its launch. The trade, which closed on 18 March
23 March 2009
Clariden ILW fund closes short at $30mn
Insurance-linked investment fund Clariden Leu closed its specialist industry loss warranty (ILW) fund on Monday (16 March) at $30mn – short of its $50mn+ target – further evincing the tou
18 March 2009
Ajax Re default risk remains
Aspen Insurance’s $100mn 2007 earthquake cat bond Ajax Re is still at risk of default despite making its latest interest payment on time yesterday (16 March), according to Standard & Poor’
17 March 2009
CME launches Gulf and Florida wind future
The Chicago Mercantile Exchange (CME) has launched a new 2nd event Gulf and Florida hurricane futures contract for trading ahead of the 2009 US wind season, which begins on 1 June. The contract
16 March 2009
Chubb closes $150mn East Lane Re III
US insurer Chubb completed its $150mn East Lane Re III Florida wind indemnity cat bond earlier this month, demonstrating that the insurance-linked securities (ILS) market is open once again. Goldman
12 March 2009
Willis to unlock parametric energy capacity
(Re)insurance broker Willis Group has developed a parametric index for offshore Gulf of Mexico (GOM) energy exposures, which it hopes will help halt the shrinking of the pool of capacity for the peri
12 March 2009
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