ILS

Catastrophe bond volumes passed the $1.5bn threshold last week, with the successful close and expansion of Chartis' Lodestone Re transaction.

As investors contemplate the scorched landscape of depressed (re)insurer valuations, a potential fillip was given today (12 May) with predictions that future capital flows are likely to head towards existing carriers rather than to support start-ups.

Wall Street giant Goldman Sachs has warned in a regulatory filing that it may face more litigation on the back of the US Securities and Exchange Commission (SEC)'s civil lawsuit filed on 16 April.

Bermudian-headquartered international specialty insurer Ironshore has completed a $250mn private debt offering of 8.50 percent senior notes due in 2020.

In what promises to be a hectic few weeks for insurance-linked securities (ILS) issuance, Allianz is currently marketing Blue Fin Series 3 - a $150mn transaction offering three years of cover for US hurricanes and earthquakes.

Swiss Re said last week its excess capital leapt from $9bn to $12bn in the first quarter and added that it was now focused on repaying Warren Buffett - which would allow the world's second-largest reinsurer to restart share buybacks.

Demands grow to cut ILS costs; Willis beefs up team

Primary US insurers dominate ILS pipeline in 2010...

Later this month, Munich Re is likely to close a US hurricane and European windstorm bond called Eos Wind.

The Insurance Insider - in partnership with its sister publication Trading Risk - reveals that a host of cat bond transactions are in the pipeline. We have all the details in our May edition...

A sluggish first quarter saw total insurance-linked securities (ILS) issuance of $300mn - almost half the levels over the same period last year - according to Aon Benfield Securities.

North Carolina's state-backed catastrophe insurance plans are to bring a $200mn wind catastrophe bond to market, which will bring the total risk placed into the capital markets in 2010 to $850mn.