Neon mulls joining new ILS launches

Specialty insurer Neon is considering setting up an
insurance-linked securities (ILS) fund that would help support its
growing property catastrophe book, sister publication
Trading Risk reported last week (12
May).
Such a move would put the carrier among a number of other recent
new ILS investors. Trading Risk also
revealed last week that London-based asset manager Tenax Capital
has launched a new cat bond fund after hiring a former Swiss Re
executive to help manage the vehicle.
However, sources