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

19 May 2012

Mariah rating held steady as losses near $700mn

2 September 2011

Ratings agency Standard & Poor's says losses covered by the tornado bond Mariah Re 2010-1 are in line with expectations as they reach $697.46mn for events through to the end of July.

The 2010-1 notes start paying out bond sponsor, US insurer American Family, when losses reach $825mn.

A second unrated tranche of notes will trigger once losses pass $725mn.

S&P kept the bond rating at CCC+ with a developing outlook.

The rating was revised down from B in late...

You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.

Purchase


Share:

Insider Publishing Limited - 2nd Floor Asia House, 31-33 Lime Street, London, EC3M 7HT, United Kingdom. The content of this website is copyright of Insider Publishing Limited 2012. All rights reserved Insider Publishing Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π