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October 2011/1

  • Scor used just a quarter of its retro protection in the first nine months of the year, but still ceded EUR297mn of cat claims to its retrocessionaires during the period.
  • Latest industry loss figures from this year's US tornado outbreak have risen to $836.6mn, causing a total loss to the first tranche of American Family Mutual's Mariah Re 2010 cat bond notes and seeping $11.6mn into the higher layer of notes.
  • Swiss Re Capital Markets hopes to attract more institutional investors to back industry loss warranty (ILW) capacity as it mulls setting up a platform to transform the derivative contracts into bond format, managing director Judy Klugman has said.
  • London-listed collateralised reinsurance fund manager Catco is considering fundraising options to take advantage of a forecast capacity crunch in the high-severity retrocession market at the January 2012 renewals.
  • A number of insurance-linked investment managers are locked into the bitter final stages of a beauty parade, seeking to attract the attention of pension fund investors to secure further inflow of capital for the remainder of the year.
  • Chicago-based insurance-linked investment manager Elementum Advisors has launched a Bermudian management firm, Trading Risk can reveal.
  • Scor Alternative Investments (SAI) aims to fully deploy the $100mn seed capital invested by parent company Scor in its new Atropos ILS fund by year-end, Trading Risk can report.
  • New Zealand earthquake losses may have prompted some traditional reinsurers to question the value of lower-paying international risk this year, but the ILS market still seems intent on adding more breadth.
  • RMS RiskMarkets director Ben Brookes examines the impact of RMS US Hurricane Model Version 11 on ILS pricing
  • Irene triggers $20mn CHI payout; Cat in a box; WeatherBill renames
  • Guy Carpenter tips the industry loss warranty (ILW) market to enjoy the fastest growth among capital markets products over the next three years.
  • Disputes and wording issues over industry loss warranty (ILW) payouts are becoming increasingly common as recent catastrophe losses provide a test of trigger mechanisms, LG Legal partner Antony Woodhouse says.
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