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  •   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
  • 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
  • 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 –
  • 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
  • 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
  • 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
  • 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’
  • 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
  • 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
  • (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