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

21 May 2012

Tornado loss creep totals $100mn Mariah Re notes

1 November 2011

Latest industry loss figures from this year's US tornado outbreak have risen to $836.6mn, causing a total loss to the first tranche of American Family Mutual's Mariah Re 2010 cat bond notes and seeping $11.6mn into the higher layer of notes.

According to ratings agency Standard & Poor's (S&P), claims aggregator Property Claims Service (PCS) has increased loss estimates on two tornado events that ripped through the mid-west US this spring.

Cat 48 has increased by $6.4mn to $289.9mn and...

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