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

19 May 2012

Myrias closes trading platform

11 February 2010

Dedicated insurance-linked derivatives broker Myrias LLC has ceased to trade, closing its screen-based trading platform from 22 January.

The firm, which was formed in July 2008, closed the platform due to a lack of market acceptance of its electronic cat bond and industry loss warranty (ILW) pricing aggregator, according to the firm.

In a letter to customers, Myrias said: "This decision was reached due to the lack of traction, user activity and market acceptance of a transparent electronic aggregator."

The...

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