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ILS

  • US primary insurer The Hartford has launched $100mn Foundation Re III -– its third transaction in the Foundation series and the first ILS of 2010, sister publication Trading Risk has revealed.
  • Bermudian Harbor Point renewed its affiliated collateralised retro facility New Point III Ltd for 2010 with capacity offering aggregate limits totalling up to $100mn.
  • The newly launched Perils European windstorm industry loss index was chosen as the trigger on two industry loss warranty (ILW) contracts.
  • The insurance-linked securities (ILS) market in 2010 could exceed $5bn in fresh transactions, after a record $1.7bn of issuance in the fourth quarter of 2009.
  • Munich Re expects the volume of new cat bond issuance in 2010 to be in the region of $5bn while the required spread is expected to fall by some 50 basis points up to the middle of the year.
  • Bermudian Harbor Point has renewed its affiliated collateralised retro facility New Point III Ltd for 2010 with capacity offering aggregate limits totalling up to $100mn.
  • Cat bond issuance next year is likely to be higher than in 2009, as the pricing premium to the traditional market continues to narrow while investor appetite for securitised reinsurance risk remains strong.
  • US insurer Travelers Indemnity Co doubled the size of i
  • The newly-launched PERILS European windstorm industry loss index has been chosen as the trigger on two industry loss warranty (ILW) contracts.
  • Despite a relatively quiet 2009, the Insurance Futures Exchange (IFEX), which trades US wind future contracts on the Chicago Climate Futures Exchange, is preparing for a flurry of new trading participants in 2010, The Insurance Insider understands.
  • Bermudian (re)insurers Axis Capital and Arch have made substantial progress in their share buyback plans, with a new authorisation from the former to repurchase $500mn and news of $252mn of shares bought back in Q4 from the latter
  • A Global Index Insurance Facility (GIIF) to enable clearly defined natural catastrophe/weather related insurance cover to the developing world has been launched by units of the World Bank.