4 May 2016 Insurance

TigerRisk Capital gets green light to trade cat bonds

TigerRisk Capital Markets & Advisory, a subsidiary of TigerRisk Partners, has received approval from the Financial Industry Regulatory Authority (FINRA) to trade catastrophe bonds in the secondary market including bonds issued by TigerRisk Partners and other affiliated entities.

TigerRisk’s new integrated catastrophe risk trading platform will include catastrophe bonds as well as industry loss warranties (ILWs) and parametric products.

“We believe our secondary trading desk will be unique,” said Tony Ursano, president of TigerRisk. “In addition to trading catastrophe bonds, our trading desk will also broker industry loss warranties (ILWs) and parametric products in reinsurance and derivative form.

“We believe that offering multiple products from the same desk benefits buyers and sellers alike and is in keeping with our holistic philosophy of connecting risk to capital in its most efficient form.  We expect this approach will also foster enhanced dialogue and relationships with investors.”

The new trading desk will be headed by Patrick Gonnelli, partner, global head of ILS distribution and trading and a registered principal of TigerRisk Capital Markets & Advisory.

“Offering access and having a dedicated daily presence in catastrophe bonds, ILWs and parametric products from the same trading desk should provide our clients, our trading partners and us with cutting-edge market and pricing intelligence and execution,” said Gonnelli.

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