ILS

The Florida Hurricane Catastrophe Fund (FCHF) has decided not to buy private reinsurance in 2009 or renew the put option it bought from Berkshire Hathaway, The Insurance Insider understands.

The leveraged UK broker consolidator Towergate Partnership has refinanced its long-term banking facilities – a move that it says will enable its strategy of growth through acquisition to continue.

Capital is willing to pour into the catastrophe reinsurance sector, but only when 30 percent+ returns become a realistic prospect once again.

German insurance giant Allianz's Blue Fin II cat bond – which increased in size to $180mn earlier in the month – was over-subscribed at its close last week (14 April).

New cat bond sponsor Assurant Inc has launched a $150mn US wind transaction, while Allianz has increased the size of its Blue Fin II cat bond to $180mn...

Insured losses from last week’s earthquake in the Abruzzo region of Italy are likely to be between EUR200mn and EUR400mn, according to risk modeling agency AIR Worldwide.

Texas-based Southwest Insurance Partners Inc (SWIP) has put on hold plans for a private offering to raise up to an additional $100mn in capital due to the uncertain economic outlook, The Insurance Insider can reveal.

Aon launches investment firm; Willis hires new capital markets head; Kepler Re wound up early

German insurer returns to ILS market with novel structure; but sharks circle legacy transactions...

Europe's largest insurer, Allianz, has added to the flurry of first quarter cat bonds after combining with Aon Benfield and Goldman Sachs to issue the $150mn US wind and quake bond Blue Fin II.

The Chicago Mercantile Exchange (CME) facilitated a $10mn trade on its new 2nd event Gulf and Florida hurricane futures contract just days after its launch.

Ratings agency Standard & Poor's (S&P) has moved the outlook on Berkshire Hathaway’s core AAA insurer financial strength ratings to negative from stable.