ILS

Despite investor caution and the category five financial storms, a new industry loss warranty fund (ILW) was launched last week to capitalise on the recent spike in rates.

Florida's state-run property insurer, Citizens Property Insurance Corp, is set to sell $2.5bn of pre-event bonds to raise funds for potential claims arising out of the forthcoming hurricane season.

Florida’s state-run property insurer Citizens Property Insurance Corp is set to sell $2.5bn of pre-event bonds to raise funds for potential claims arising out of the forthcoming hurricane season.

Chubb Corp and Liberty Mutual both renewed their US catastophe bonds last week, in moves that gave encouragement to the Lehman Brothers-affected insurance-linked securities (ILS) sector.

Swiss Re's move to replace its chairman Peter Forstmoser with his deputy Walter Kielholz has met with a mixed response from analysts and investors, because of the latter's perceived role...

Max Capital has announced that it intends to further reduce its investment allocation to alternative assets from 14 percent to a 10-12 percent range at the end of 2008.

Bermuda-domiciled Lloyd's and international underwriter Omega Insurance Holdings Ltd managed to produce a modest pre-tax profit for 2008, as strong investment returns offset catastrophe-fuelled...

A lack of losses has caused ratings agencies to upgrade the notes on Brit Insurance's Fremantle cat swap transaction and Catlin-managed catastrophe collateralised debt obligation (CDO) Bay Haven.

After February's flurry of equity fundraising initiatives in the Lloyd's market, Brit Insurance decided to withdraw its plans of raising approximately £150mn on the eve of its 2008 year-end results.

February was an unprecedented month for Lloyd's fundraising with four quoted insurers all raising equity finance.

The much-anticipated - and somewhat delayed - European industry-wide loss index draws closer to fruition with the Swiss incorporation of PERILS AG, a firm established to aggregate European windstorm exposure and loss data.

Moody's Investors Service has put $67.5mn of the notes on Glacier Re’s $180mn Nelson Re cat bond on review for a possible downgrade after the (re)insurer significantly upped its Hurricane Ike loss estimates.