February 2009/1
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The devastating Windstorm Klaus – which swept across southern France and northern Spain on 23-24 January leaving a trail of destruction – could trigger cat bonds if the losses are as high
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The Irish Financial Regulator (IFR) initially declined to authorise the special purpose reinsurance vehicle (SPRV) Atlas V Re Ltd in February, in a show of teeth that delayed the issuance of the firs
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Swiss Re is probing all sectors of the trading risk universe in an attempt to hedge layers of the $1.55bn of exposure it assumed on the California Earthquake Authority (CEA) reinsurance programme in
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Japanese insurer Mitsui Sumitomo Insurance USA Inc is offering weather insurance policies in the US as a “simpler” alternative to derivatives for smaller companies. The firm will sell i
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Heavy fourth quarter 2008 secondary cat bond trading sent the insurance linked securities (ILS) market to only the second quarterly loss in its history, at 0.94 percent. The quarter’s loss
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Swiss Re's Jacques Aigrain stepped down as CEO as the firm's share price plumbed new depths in early February. Investors deserted the stock following a package of measures to shore up the reinsurer
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Insurance-linked capital markets could benefit as Florida looks to alternative capital providers as part of the solution to the state catastrophe fund’s $19bn capacity shortfall. Florida Hurr
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Property Claim Services (PCS) has raised its estimate for onshore insured losses from Hurricane Ike by a further $900mn to $11.5bn, but the figure continues to conflict with loss projections from wit
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Citadel’s CIG Re and New Castle Re’s 2007 $500mn all-debt sidecar vehicle, Emerson Re, has been terminated as the hedge fund significantly scaled back its presence in the (re)insurance ma
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Asset values in the collateral account of Hannover Re’s $133mn hybrid sidecar vehicle Globe Re have fallen, triggering a “new mark-to-market collateral arrangement”. Deutsche Bank
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The class B notes of Catlin-managed catastrophe collateralised debt obligation (CDO) Bay Haven have been upgraded to A by S&P as the bond nears maturity with no sign of loss. Ratings agency S&P upg
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The Chicago Mercantile Exchange, the largest weather derivatives exchange, has expanded its temperature-based weather products to Australia. The new listings, which will begin trading on 23 Februar
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