ILS Trades for the Week of December 15

Trading in insurance linked securities (ILS) primed for maturity dominated the market in the final full week of activity prior to the holiday break.

Both Combine Re (Swiss Re) and Compass Re (AIG) mature in the first week of the New Year and continued their price decline that peaked during the height of the hurricane and tornado season. Compass — sponsored by AIG — provides peak-zone protection against U.S. hurricanes and earthquakes and closed on Dec. 27, 2012, while Swiss Re’s Combine bundled Country Mutual Insurance Co., and North Carolina Farm Bureau Mutual Insurance Co. Inc. risks from severe thunderstorm, hurricane, earthquake and winter storm.

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