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  • Munich Re has made its latest foray into the world of reinsurance securitisation with the launch of a $190mn cat bond on behalf of Zurich Financial Services Group (ZFS) to cover Californian earthquake risks.
  • Lloyd’s first sidecar syndicate, Managing Agency Partners Ltd’s (MAP) Syndicate 6103, began underwriting last month after successfully raising £43mn in capital from Lloyd’s Names.
  • A buyers’ market has seen plummeting airline rates with German airline Lufthansa leading the way, Insider Week can reveal.
  • Catastrophe exposed US reinsurance property rates rose around 40 percent at the 1/1 renewals as reinsurers sought to bring in-line with the mid-year 2006 pricing levels, according to the broker Willis Re.
  • Paris Re Holdings has become the latest reinsurer to launch a sidecar-style vehicle with the establishment of Triomphe Re, a $185mn Bermuda domiciled Class 3 reinsurer.
  • Munich Re has made its latest foray into the world of reinsurance securitisation with the launch of a $190mn cat bond on behalf of Zurich Financial Services Group (ZFS) to cover Californian earthquake risks.
  • In a record year for securitisation in the sector, French reinsurer SCOR has become the latest (re)insurer to issue a catastrophe bond, with its EUR120mn Atlas III transaction to cover against European windstorm and Japanese earthquake losses.
  • Munich Re has regained its targeted AA- rating from Standard & Poor’s (S&P) today (22 December) with the rating agency upgrading the German giant from A+ and assigning a stable outlook.
  • Despite his imminent departure to Albany, the New York attorney general Eliot Spitzer has filed a lawsuit against Acordia Inc accusing the US’ fifth largest insurance broker of illegally steering business to companies who paid them kickbacks.
  • An additional $1bn of US property catastrophe focused capital will be provided following the imminent launch of Ironshore Ltd, The Insurance Insider can reveal.