Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

23 February 2012

UBS closes ILS desk

19 January 2012

Investment bank UBS has closed its New York cat bond desk, Trading Risk understands.

It is thought that the bank will maintain its focus on life insurance investments, but that it did not see enough opportunity in the low-margin P&C side of the business.

The desk was manned by former Swiss Re executives Al Selius and Jay Green.

Selius joined UBS in October 2010 as managing director and ILS trader, signing up Green in June this year.

Green had been...

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