ILS

Chartis subsidiary the National Union Fire Insurance Company of Pittsburgh (NUFI) returned to the cat bond market last week with its second offering of the year.

Swiss Re is fundraising for a longevity risk cat bond that will be the second completely new peril to come to market in as many weeks, after Goldman Sachs launched a health insurance securitisation for Aetna.

Investment bank Goldman Sachs has brought the first health insurance related risk to the insurance-linked securities (ILS) market with the proposed $200mn Vitality Re securitisation for new sponsor Aetna Life Insurance.

Swiss Re is seeking to renew a multi-peril, multi-event cat bond deal structured as the reinsurance equivalent of collateralised debt obligations.

The industry loss on the New Zealand earthquake has topped $3bn, triggering reinsurance derivatives bought after the Chilean quake, The Insurance Insider understands.

Mariah Re, the first cat bond to focus solely on US thunderstorm risk, has closed fully placed, raising $100mn for new sponsor American Family Mutual Insurance.

Buyers of industry loss warranty (ILW) instruments are seeking more risky exposure to European wind to provide balance to the run of low-risk new cat bonds that have been issued in recent months.

Start-up Bermudian reinsurance fund CATCo has signed up two executives from the Qatar Insurance Company to its board.

CatCo, the aspiring catastrophe reinsurance fund, is hoping to raise sufficient capital to list on the London Stock Exchange next month.

Leading Swiss cat bond investment manager Clariden Leu has re-opened its flagship fund to new investments, following strong insurance-linked securities (ILS) issuance in the second half of the year.

Catastrophe bond sponsor USAA is revisiting the capital markets with its second Residential Re offer this year, opening the season for fourth quarter US wind sales.

The ILS sector must innovate to compete with traditional players as the two markets encroach on each others' territory, according to speakers at the annual Trading Risk New York gathering last month.