ILS

Collateralised retro provider Catco expects that losses from Hurricane Sandy will reduce its gross annual returns by 13.2 percent, based on a $20bn industry loss

2012 insurance-linked securities (ILS) issuance reached $5.7bn by mid-December - well ahead of last year's total of $4.8bn and with two bonds currently in marketing, on track to meet the $6bn threshold that was predicted for the year

Bermudian reinsurer Montpelier Re has outlined its ambition for the newly listed third-party cat reinsurance fund Blue Capital by saying it would like to raise as much as $1bn within the next 3-5 years

Swiss Re has completed an £800mn ($1.3bn) longevity insurance contract with the pension fund of UK insurer LV=, taking its longevity risk transfer past the $12bn mark

The recent severe UK floods have pushed up annual insured flood losses in the UK beyond £1bn ($1.6bn), Aon Benfield's Impact Forecasting unit said in its monthly cat report.

Montpelier Re has confirmed the launch of its new asset management platform Blue Capital and that it has raised $100mn in the IPO of its new Blue Capital Global Reinsurance Fund (BCGRF)

Montpelier Re's new Blue Capital Global Reinsurance Fund has raised $100.1mn from its initial public offering.

Secondary market prices for cat bonds have regained some of the write-downs made in the weeks after Superstorm Sandy, gaining 1.3 percent over the week to 23 November after the first Property Claim Services (PCS) loss estimate came in at $11bn.

Credit Suisse is carving out a side pocket of reserves for Sandy claims worth 5 percent of the net asset value of the £40mn DCG Iris fund, according to the London-listed fund.

USAA expanded its latest Residential Re cat bond from a $250mn target to $400mn, as insurance-linked securities (ILS) demand remained strong in the first offering after Superstorm Sandy.

Montpelier Re is poised to launch a London-listed insurance-linked securities (ILS) fund as it expands its third party capital management business, confirming details of a proposal previously revealed by sister publication Trading Risk.

Bermudian (re)insurer Montpelier Re is pushing ahead with plans to list a third-party managed cat reinsurance fund in London and Bermuda, confirming details of a proposal previously revealed by sister publication Trading Risk.