Secondary trading
-
Spreads could continue widening throughout the rest of the year.
-
ILS returns in 2023 sparked a flurry of enquiries from hedge funds.
-
A diverse investor base is among market characteristics seen as important for growth.
-
Former retro broker Erik Manning is leading the initiative having joined BMS Re in January.
-
Lane Financial said that the cat bond market is suggesting that the early markdowns were an overreaction.
-
The framework introduced by the BMA last July allows companies to test new technologies and products on customers in a controlled environment.
-
Cat bond prices in the secondary market have begun recovering following a pre-Christmas sell-off, as investors sought to release capital ahead of the renewal, brokers said.
-
The insurer is expected to make significant recoveries from its aggregate cat bonds for the second year running.
-
The Eurekahedge ILS Advisers Index was up by 0.45 percent in August but this figure was below the 13-year average of 0.68 percent.
-
ILS premiums steadied after a 9.5 percent drop in the first quarter, according to Lane Financial's benchmark.
-
London-based start-up Akinova is developing an electronic trading platform for (re)insurance risk and is planning to start with listing a version of an industry loss warranty (ILWs) called an “AELO” – an Akinova Event Linked Option.
-
Prices on aggregate storm-exposed cat bonds are largely holding up after an active start to the storm season, as sources reported increased demand for multi-peril and earthquake diversifiers.
-
High volumes of new deals kick-started further activity in the secondary cat bond market and gave yields a small boost in the first quarter, but 2017 ILS returns remain well below last year's levels
-
Cat bond spreads rose slightly throughout February but yields remained below levels that prevailed on the ILS market a year ago, according to data from RMS.
-
Cat bond prices in the secondary market edged upwards early in February, as the market waited for the New Year's issuance to kick-start
-
Further detail has emerged on RenaissanceRe's new $140mn Fibonacci Re vehicle, which has been described as a hybrid cat bond/sidecar facility
-
Markdowns to the Gator Re cat bonds in late November caused average cat bond spreads to spike heading into the end of the year, according to data from RMS.
-
Returns from investing in so-called "deadcat" bonds - transactions that are nearing maturity and face little or no further catastrophe risk - have softened this year, in a reflection of generally tighter ILS market conditions.
-
The volume of livecat trading of industry loss warranties (ILWs) prompted by Hurricane Matthew may have reached up to $150mn-$200mn, according to sources contacted by Trading Risk.
-
Cat bond prices in secondary trading had recovered to pre-Hurricane Matthew levels by the end of last week (14 October), rising by 1.57 percent to 95.53 as the storm's impact proved to be less severe than anticipated.
-
Gator Re prices have regained further ground as the bond approaches maturity without covered losses notably rising.
-
Cat bond yields continued to fall in late summer, as half of the hurricane season elapsed without a US storm threat.
-
ILS fund returns averaged 0.40 percent in July as managers escaped losses from storms and flooding during the month, according to the Eurekahedge ILS Advisers Index
-
Risk-adjusted cat bond spreads recovered some ground in June as the ILS market earned incremental premium from higher-risk deals, according to RMS data.
-
Gator Re regained some value on the secondary market during trading in late June and early July, according to Finra Trace data
-
The secondary cat bond market cleared the first Gator Re trade in two months this week, as the bond's price tumbled in response to aggregate claims rising near its trigger
-
There continued to be more buyers than sellers on the secondary cat bond market in June, which kept prices relatively firm
-
A downturn in industry loss warranty (ILW) pricing has limited cat bond lite issuance activity in 2016, with a couple of recent deals breaking the dearth of activity
-
Risk-adjusted cat bond spreads have dipped below 2015 yields for the first time this year, according to RMS data.
-
Cat bond prices continued to edge upwards in May, amid intense buyer demand when there was very little for sale.
-
TigerRisk's capital markets arm has received regulatory approval to open a secondary trading desk covering a range of ILS products, which will be headed by Patrick Gonnelli
-
Allied World Q1 premium drop; Ontario Teachers'sells ANV; Alternative capital hits $72bn: Aon Benfield; RMS on Ecuador quake; Record rainfall floods Texas...
-
Strong bidding interest on the secondary cat bond market helped to counteract the influence of seasonality in early April
-
Lane Financial estimated the ILS market's turnover rate at about 20 percent or $4bn a year, after looking at 21 months of secondary trading data filed by the industry with US regulators
-
Xchanging said it hoped secondary "trades" of reinsurance contracts would become an integral facility of its X-gRm platform after TigerRisk announced it had completed the first such transaction today.
-
Cat bond trading slowed in early March amid uncertainty over the outlook for upcoming issuance
-
Independent London broker Alston Gayler (AG) has added a PCS Turkey licence to facilitate industry loss warranty (ILW) trading of the risk
-
The Swiss Re Cat Bond Price Return index stabilised in early February after posting incremental softening throughout late 2015.
-
ILS investors traded a total of at least $20mn MultiCat Mexico 2012 class C notes at distressed levels in the three months from late October.
-
Gross catastrophe bond yields ended 2015 up almost 10 percent from December 2014, according to RMS data.
-
Catastrophe bonds were yielding about 16 percent more year-on-year by the end of November, according to RMS data.
-
There were fewer buyers of cat bonds near maturity this year than in 2014, making it more difficult for sellers looking to trade out of positions ahead of the January renewal season, sources told Trading Risk.
-
Cat bond prices trailed off by 0.62 percent in the final two weeks of October, as the market faced a potential loss from Mexico's Hurricane Patricia.
-
The Swiss Re Cat Bond Price Return Index has almost reached the values recorded at the start of 2015 after posting a 1.7 percent upswing since mid-July.
-
TigerRisk has been marketing a derivative product that triggers off a Lloyd's index, which could offer ILS funds exposure to a range of specialty business written within the London market, Trading Risk understands.
-
ILS spreads began their seasonal tightening relatively late into the hurricane season this year, with widening persisting into May and June.
-
The average ILS expected return recovered to 3.66 percent by June 2015, from a low of 2.36 percent in September 2014, according to secondary market data compiled by Lane Financial.
-
The Swiss Re Global Cat Bond Price Return Index has experienced its largest first-half fall since H1 2011, when the market was rocked by Tohoku earthquake losses.
Most Recent
-
Appleby appoints Minors as corporate counsel
17 May 2024 -
Scor books Q1 P&C combined ratio of 87.1%
17 May 2024 -
Allstate pegs April pre-tax cat losses at $494mn
16 May 2024