Benfield forms dedicated capital markets unit

Reinsurance broker Benfield has formed a capital markets operation within Benfield Advisory, its corporate finance and advice unit. The new capital markets division will act as the firm's centre of excellence for all forms of ART business, including sidecars, cat bonds, industry loss warranties (ILWs), collateralized reinsurance, derivatives and other indexed linked securities. The unit will set up a desk to concentrate specifically on ILWs.