Wildfire

USAA is looking to place $500mn of risk into the capital markets through its 2010 Residential Re transaction.The mammoth placement will come as good news to investors, particularly as the US insurer will be ceding diversifying perils of wildfire, winter storm and severe thunderstorm alongside the peak perils.

US insurer Chubb Group has launched a $200mn Cayman Island-based catastrophe bond, East Lane II Ltd, giving it multi-peril cover in North America. The indemnity bond will cover Chubb and its subsid