Archive for January, 2012

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Industry loss warranty (ILW) market headed back to hard market peaks

The industry loss warranty (ILW) market is on the up in 2012 according to a report published by Willis Re, the reinsurance broking arm of Willis Group. Loss activity experienced during 2011 has driven buyers to seek protection and ILW's are one area set to benefit, with Willis Re predicting read the full article →

Diversity in the outstanding cat bond & ILS market at year end 2011

Diversity and the hunt for diversification are key topics which regularly come up in our articles, our discussions with participants in the market and our coverage of deals and transactions in the catastrophe bond and insurance-linked securities spaces. Diversity is a factor which enables the market to grow, encourages investors read the full article →

CME weather volumes down in 2011 but niche contracts up significantly

The Chicago Mercantile Exchange (CME), which is the main location that weather futures and derivatives are traded, has experienced a significant drop in the volume of contracts traded across the exchange during 2011 when compared to the prior year. The CME has been experiencing good growth each year but 2011 read the full article →

Ibis Re II Ltd. catastrophe bond rated and closes

As we wrote yesterday, the Ibis Re II Ltd. Series 2012-1 catastrophe bond from sponsor Assurant has closed at an upsized $130m. This two tranche cat bond transaction, issued by Cayman Islands domiciled Ibis Re II, will provide sponsor Assurant with three years of U.S. hurricane cover on a per-occurrence, read the full article →

Ibis Re II and Kibou catastrophe bonds both likely to upsize before close

Two of the catastrophe bonds which are still being marketed to investors are likely to upsize before close according to sources in the investor community. Demand has been strong for both the latest cat bond from Assurant, Ibis Re II Ltd. Series 2012-1 and the return to the cat bond read the full article →

Best of Artemis, week ending 29th January 2012

It's been another busy week in the cat bond, insurance-linked securities and reinsurance markets and we've had a lot of new topics to cover. As well as our usual market news and analysis we've published some interviews which asked leading market participants for their predictions for the year ahead, unsurprisingly read the full article →

Vitality Re III notes list on Cayman Islands exchange

The variable rate note programme and securities issued by the Vitality Re III Ltd. special purpose vehicle have been admitted for listing to the Cayman Islands Stock Exchange. The recently completed medical benefit linked insurance-linked security transaction provides insurer Aetna with a source of reinsurance cover against medical benefit claims read the full article →

Hannover Re taps capital market investors for retrocession capacity

German reinsurer Hannover Re have again utilised the capital markets for their retrocession renewal through their proportional retrocession programme which they call K Cession. Previously called K6, Hannover Re have been bringing retrocessional risks to capital markets investors since as far back as 1995.The retro renewal process has not been read the full article →

UK councils look to weather derivatives for winter weather hedge

The UK's Guardian newspaper reports that some of the local councils in the UK (local government authorities) are seriously looking at weather derivatives as a way to hedge the excess costs of severe winter weather. The UK has been hit by two severely cold winters with unusual amounts of snow read the full article →

$63m of Successor X Ltd. Series 2012-1 notes list on Cayman stock exchange

Swiss Re's latest Successor X Ltd. catastrophe bond transaction appears to have completed as two tranches of notes have listed on the Cayman Islands stock exchange. Initially the Successor X Ltd. Series 2012-1 deal was constructed of three tranches of notes, but just two have listed on the exchange. We're read the full article →