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May 2008/1

  • The embedded value (EV) sector of the life insurance linked securities (ILS) sector is a “high growth area”, commented Michael Symonds, SVP at Lehman Brothers, at the 2008 SIFMA ILS confe
  • A total of $700mn of life and non-life insurance linked securities (ILS) have been issued to end-April 2008 – a figure which, even with a month to go before the start of the North Atlantic wind
  • Ratings agency Standard & Poor’s (S&P) is set to revise its cat bond methodology, Trading Risk can reveal. The latest move comes as the ratings agencies’ models come under increasing scru
  • East Lane Re II US insurer Chubb Group’s $200mn cat bond, East Lane Re II, was over-subscribed, proving that a “strong” proposition can still compel investors despite the recent rel
  • Secondary trading of insurance linked securities (ILS) was estimated to be as high as $1bn in March, with first quarter trading possibly reaching $3bn across the life and non-life cat bond sectors. T
  • The pioneering ILS Avalon Re was struck by a rash of downgrades following news that a third energy loss could hit the cat bond. Following notifications of claims arising from a New York steam pipe ex
  • Dresdner Kleinwort-owned special purpose reinsurer Bridge Re, has closed its three year $182.5mn Puma Capital retro cat sidecar to new business after just one year of operation due to weaker market c
  • Hannover Re CEO Wilhelm Zeller said the reinsurer will look to continue with its multi-year K5 sidecar when it comes up for renewal at year-end. Zeller added that Hannover Re had never been as well p
  • Benfield Group's corporate finance arm Benfield Advisory has developed a new parametric reinsurance product, aimed at transferring workers’ compensation catastrophe (WCC) coverage to reinsurers
  • Outstanding non-life insurance linked securities (ILS) limits could reach $70- 100bn within the next 10 years, according to senior market commentators. In a lively discussion on the future of the non
  • At current pricing levels, it would take a $30-50bn ground-up property loss to reverse the slide in traditional property cat reinsurance rates, according to Aon Re Global. The broker forecast rate-on
  • Ratings agency Moody’s upgraded the $750mn of notes in life (re)insurer Genworth Financial’s River Lake III XXX securitisation in April, just 10 days after downgrading them. The $250mn of
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