Zurich Financial Services (ZFS) has formally launched the catastrophe bond Lakeside Re II Ltd, giving the multinational insurer $225mn of excess of loss reinsurance protection against Californian earthquake risk....

Natural catastrophes activity remained near the levels of the previous two years in 2009, though in the absence of a significant fallout from a US hurricane this season, insured losses were in the region of only $20bn, according to the latest research from Aon Benfield....

The newly-launched PERILS European windstorm industry loss index has been chosen as the trigger on two industry loss warranty (ILW) contracts.

Credit Suisse Asset Management (CSAM) acts as protection provider to one contract, purchased by Munich Re, with another arranged by Willis Re with unnamed counterparties, according to PERILS....

Rating agency Standard & Poor’s (S&P) has affirmed it’s A+ credit rating on RenaissanceRe affiliate, property catastrophe reinsurer DaVinci Re, with a stable outlook....

 US insurer Travelers Indemnity Co has doubled the size of its US wind cat bond, Longpoint Re II, to $500mn, Trading Risk can reveal.

The placement, which closed yesterday (14 December), takes 2009 ILS issuance over the $3bn mark – exceeding 2008 levels....