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

21 May 2012

RMS Irene Paradex number unlikely to trigger Montana bond

20 September 2011

Modelling firm RMS has published a $2.82bn Paradex index value for the US losses stemming from Hurricane Irene, which is unlikely to trigger Flagstone Re's Montana Re 2010 notes, Trading Risk understands.

Paradex indices are designed to provide a single, objective loss figure for catastrophes based on windspeeds, allowing ILS and industry loss warranties to operate.

The Paradex US wind index is used as the trigger on Flagstone Re's $210mn Montana Re 2010 cat bond. The second event $60mn Class...

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