Derivatives

Fitch Ratings says in a new report that absolute return funds’ performance has improved with over 70% of funds posting positive performance in 2012 and 2013, supported by more favourable market conditions. Returns have showed low volatility but have not always been independent of market conditions, notably volatility and correlation.

ING announced today that the underwriters in the offering of shares of ING U.S. Inc., its U.S.-based retirement, investment and insurance subsidiary, have exercised their option to purchase an additional 4.95 million shares of ING U.S. from ING Group at the offering price of USD 29.50 per share.

Swiss Re’s latest sigma study reveals that natural catastrophes and man-made disasters in 2012 caused economic losses of USD 186 billion with approximately 14 000 lives lost.

Some of the banks that qualify for a potential split under draft legislation agreed by the German government last week may choose to stop the restricted activities rather than incur the costs of separation, as the affected businesses make relatively small contributions to earnings, Fitch Ratings says.

Swiss Re Capital Markets has successfully structured and placed USD 270 million of notes issued by Lakeside Re III Ltd., covering North American earthquake risk on behalf of Zurich Insurance Group ("Zurich").