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

21 May 2012

S&P could lower ResRe rating after tornado outbreak

9 May 2011

Ratings agency Standard & Poor's (S&P) says it could lower ratings on USAA's 2008 and 2009 series of Residential Re bonds if the recent spate of severe US thunderstorms continues.

The commentary came in a note affirming the multi-peril Residential Re bonds, which cover US thunderstorms, hurricane, earthquake, winter storm, and wildfire perils on an annual aggregate basis.

Both bonds have very little risk left as they are due to mature on 31 May this year.

In the past year...

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