ILS

Zenkyoren, the industry's largest cat reinsurance programme, is to renew up by around 50 percent when signings are completed this week, The Insurance Insider understands.

Reinsurance brokers Aon Benfield Securities and Guy Carpenter were among the winners at the third annual Trading Risk awards held in London on 23 June.

Swiss-based ILS fund manager Clariden Leu hopes structurers will adopt its groundbreaking work on the private cat bond market, opening up a less formal route to create liquid reinsurance investments.

First-time cat bond issuer Argo Group said turning to the collateralised market was an attractive option in the current uncertain market, as a hedge against rising retrocession pricing.

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Reinsurance brokers Aon Benfield Securities and Guy Carpenter were among the winners at the third annual Trading Risk awards held in London last night (23 June)

First-time cat bond issuer Argo Group has described its $100mn Loma Re transaction as the most efficient way to expand its reinsurance and retro programmes ahead of this year's US wind season

The New Zealand government is set to release an update on the future of Christchurch overnight (22/23 June) to give more information on which suburbs may have to be abandoned under reconstruction plans.

Start-up collateralised reinsurer Catco says it has deployed $700mn of retro reinsurance capacity in the market since it began operations last December, giving a clue to the size of its private investment funds for the first time.

Argo Re has gained $100mn of multi-peril retro protection from the capital markets after closing its first cat bond Loma Re on target.

S&P placed American Family Mutual Insurance's $100mn tornado cat bond Mariah Re 2010-1 on creditwatch due to fears that the storm that struck Joplin could add $300mn to the bond's aggregate loss tally

Prices for peak US wind industry loss warranties (ILWs) have risen by 5 to 25 percent this year on high loss tolls, wind model changes and a shortage of retro capacity, according to JLT Re