ILS

Only a handful of livecat industry loss warranty (ILW) deals were conducted last week as Irene ploughed through the Caribbean and on to become the first hurricane to make landfall in the US in three years.

As Hurricane Irene bears down on the east coast of the US, brokers have transacted livecat industry loss warranty (ILW) deals for traders seeking to hedge against potential losses

Warren Buffett's Berkshire Hathaway has made a $5bn investment in Bank of America through a private share issue.

Moody's has said that its downgrade today (24 August) of the Japan Government Bond (JGB) rating to Aa3 from Aa2 will not directly affect the Aa insurance financial strength (IFS) ratings of three Japanese P&C insurers.

The number of Bermudian insurance start-ups has increased by nearly a third in 2011 thanks to a spike in the number of special purpose insurers set up after the run of insured natural disasters early in the year.

The pension risk transfer market turned over deals worth £1.4bn during the second quarter of 2011, according to data from consultancy Hymans Robertson.

The capital markets could provide the oil industry with more comprehensive (re)insurance cover at a more competitive price, the founders of a new insurance-linked securities (ILS) venture argue.

The recent stock market volatility - as further heavy falls at the end of last week wiped out earlier gains - means the P&C sector is trading at around historic lows.

Swiss Re and weather risk specialist CelsiusPro have launched a product to cover UK builders against the cost of halting work due to severe weather.

The time is right for oil companies to approach the capital markets for spill insurance, say the executives behind a new company formed to bring spill liability bond issuances to market

Ratings agency Standard & Poor's (S&P) says third quarter issuance from the insurance-linked security (ILS) market are on track to beat historical norms for the period, signalling a potential change to the sales cycle.

Italian-listed asset manager Azimut has bought a half-stake in insurance-linked securities (ILS) manager Katarsis Capital Advisors and its subsidiary Eskatos Capital Management for EUR7.5mn.