ILS

Credit Suisse Asset Management says it expects the final Property Claim Services (PCS) loss estimate for Superstorm Sandy to remain below $20bn, which will keep a number of industry loss warranties (ILWs) in the clear

The Swiss Re Cat Bond Price Return Index slid 0.7 percent the week RMS released its $20bn-$25bn loss estimate for Hurricane Sandy, taking the total slump since 26 October to 3.2 percent.

Hong Kong-based advisory firm ILS Advisers hopes to raise $50mn-$100mn for a new insurance-linked securities (ILS) fund-of-funds in the first half of next year.

Bermudian (re)insurer Endurance Specialty Holdings has bought Marty Malinow's Galileo Weather Risk Management to use as the launchpad for new weather trading unit Endurance Global Weather, reports sister title Trading Risk.

US industry loss compilation service PCS has released the results of its first survey for hurricane Sandy, putting total insured losses at $11bn, The Insurance Insider has learned.

Fitch has assigned a BB+ credit rating to the latest EUR1bn debt issuance of Spain-based (re)insurer Mapfre, citing an expectation that the increase in leverage would only be temporary

Industry loss warranty (ILW) limits of $350mn-$400mn could be on the line to pay out as a result of Superstorm Sandy if industry losses rise as high as $20bn, sources estimated.

Montpelier Re has enlisted the support of Barclays Capital to launch a new London-listed reinsurance third party fund manager and sidecar, according to fundraising presentations obtained by our sister publication Trading Risk.

The largest Hong Kong IPO of 2012 is earmarked for 7 December as fundraising began in earnest this week for the listing of giant Chinese insurance group PICC.

Swiss Re and Scor both nearly doubled their latest cat bond issuances as pricing on the deals fell below initial expectations due to strong investor demand.

But Chubb and Travelers' bonds marked down over loss exposure fears...

Most north-east contracts at $20bn, but significant minority placed at lower threshold...