Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

AM Best negative on RMS model; Montana 2009 on review

5 May 2011

Ratings agency AM Best has placed $175mn of Flagstone Re's 2009 Montana Re cat bond under review for a downgrade as it absorbs the revised risk profile of the notes following RMS' version 11 US wind model.

The US wind and quake-exposed notes were issued by Flagstone's Swiss subsidiary in November 2009 and expire in December 2012. RMS is the calculation and modelling firm on the deal.

AM Best said the rating actions were in response to the latest update...

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