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September 2010
Following the announcement that Glacier Re is going to run-off, Moody's Investors Service has changed its outlook on the Glacier Re sponsored Nelson Re Class H and Class I catastrophe bonds to negative and Class G still at Ca (sf) developing.
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August 2010
The insurance-linked securities market had an impressive second quarter. It was so good some believe full year cat bond issuance could now beat last year’s total.
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Swiss asset manager, Alternative Beta Partners, has unveiled a securities cat bond index, Reuters reports.
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Despite a challenging capital markets environment, ILS continue to provide value to sponsors and investors, according to Aon Benfield Securities, the investment banking division of Aon Benfield.
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Aon Benfield Securities has announced the launch of the Aon Benfield ILS Indices, which provide a quantitative view of monthly ILS returns since December 2000.
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The trend of strong returns for the insurance-linked securities market since the financial crisis has continued in the first half of 2010 and could beat last year in terms of issuance, according to a Swiss Re ILS market update.
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Ipac Asset Management, an Australian investment management firm, has bought a $50m stake in a Bermuda insurance-linked securities fund managed by Nephila Capital, according to the Artemis.bm website.
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Eight catastrophe bond transactions totalling $2bn in risk capital were completed in the second quarter of 2010, making it the second most active second quarter on record, according to a new report by Guy Carpenter.
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July 2010
Catastrophe bond sales in the second half of 2010 will match the $2.4bn sold in the first six months, according to Munich Re, Bloomberg reports.
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The value of insurance-linked securities (ILS) listed on the Bermuda Stock Exchange (BSX) has reached more than $1bn.
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A $325m reserve financing transaction has closed between two principal life and annuity operating subsidiaries of Aviva USA Corporation and Crédit Agricole Corporate and Investment Bank.
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German reinsurance firm Munich Re has completed a catastrophe bond on behalf of the Massachusetts Property Insurance Underwriting Association.