February 2008/3

Veteran Bermudian reinsurer RenaissanceRe is to launch its first cat bond to provide US all natural perils cover.

Sub-prime related writedowns in the financial services sector have surged in the last month, so far wiping a total of $257bn from the balance sheets of companies worldwide, according to the latest figures from information provider Advisen.

The eagerly awaited 2007 electronic claims file (ECF) figures at the end of last month revealed that the Lloyd's market had missed the 100 percent year-end target for take-up despite a significant improvement in December.

Catlin Group Ltd is poised to launch a second Newton Re cat bond providing $240mn of natural catastrophe perils coverage.