All Securitisation/industry loss warranties articles – Page 2
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Features
An elegant solution
Only a few years have passed since cat bonds were commonly described as “an elegant solution in search of a problem”. They have since become a vital tool in the risk transfer armoury, but will they remain there? asks Mark Hvidsten.
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GR Focus
Handling the capital glut
Can Bermuda reinsurers manage their excess capital successfully after two record-breaking years? If the market can get this right, it could just help to ease competitive pressures, explains Laline Carvalho.
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Features
Breaking with tradition
Sidecars have come and gone – at least for the time being – and cat bonds are continuing an upward surge. As Lloyd’s continues its foray into non-traditional reinsurance, David Banks asks if the market is ready to embrace the full range of capital market options.
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GR Focus
Bermuda: Trouble in paradise?
The credit crunch, unpopular policies and the ever-looming threat of a major catastrophe loss are just some of the challenges facing Bermuda reinsurers. Some say Bermuda is losing its shine and yet the market has enjoyed two years of record profits. Helen Yates takes stock.
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Markel wins case against surety bond underwriter
Court heard that premium was secretly diverted to an offshore entity for profit
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Benfield invests $50m in ILS firm
Former RenRe SVP Michael Cash is CEO of new ILS investment management firm, Juniperus Capital Limited
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Brit begins trading on IFEX
Brit is the first major London-market insurer to trade in insurance-linked derivatives on IFEX
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Albertini to head up Amlin ILS venture
New investment management firm is headed up by John Wells and former Swiss Re ILS head Luca Albertini
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RMS names Stroughair head of RiskMarkets
John Stroughair will be responsible for all RMS capital markets activities
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Aon Re Global names two new capital market specialists
Both appointees join from investment banks
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Investment Analysis
Once bitten, twice shy
Only one catastrophe bond has ever been triggered and the market has tripled since 2005. Could losses in 2008 put off investors who are not accustomed to paying out? asks Lindsey Rogerson.
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AM Best extends basis risk assessment to ILWs
Ratings agency says it can use the same methodology as used for catastrophe bonds
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MBIA downgraded to 'AA' - Fitch
World’s leading bond insurer ‘will not improve its credit profile until it gains more momentum in financial guarantees market’
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Swiss Re relaunches business model
Focuses on business integration and capital market opportunities
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S&P lowers five securitisation ratings
Downgrades come after monoline actions, although 28 ratings were also affirmed
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Ambac rejects Buffett's reinsurance offer
Plan to reinsure $800bn in securities turned down by one of three bond insurers
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IFEX cuts margins to $500
Reduces maintenance margin on its US Tropical Wind Event Linked Futures contracts to $500 per $10,000 contract
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New ILW exchange grows fast
Insurance Futures Exchange Services (IFEX) has trading volumes of more than $31m