March 2009/1
-
The closure of SCOR’s $200mn Atlas V cat bond in February marked the end of an issuance drought, opening the pipeline for two more deals that closed in early March. Atlas V – which provi
-
The lead managers on SCOR’s $200mn Atlas V cat bond noted a shift in investor attitudes during the six-month gestation of the first deal to close in 2009. Erik Manning, of structuring agent and
-
Cat bond structurers are exploring alternative European jurisdictions for special purpose reinsurance vehicle (SPRV) incorporation, after the Irish regulator forced two re-writes of the Atlas V trans
-
PERILS – the Swiss firm established to develop the much-anticipated European industry loss index – is targeting medium-sized and regional insurers in order to gather sufficient market dat
-
Berkshire Hathaway’s (BH) appetite for catastrophe reinsurance has been blunted and the company will sell less in 2009 in order to protect its capital cushion, according to chairman Warren Buff
-
Ratings agencies Standard & Poor’s (S&P), AM Best and Moody’s have trimmed the ratings of troubled reinsurance giant Swiss Re on the back of its abysmal 2008 results. AM Best downgraded S
-
Ratings agency Standard & Poor’s (S&P) has posted a negative outlook on State Farm and RenRe’s $100mn joint venture sidecar-style transaction Top Layer Re, on the back of a recent action
-
As the cat bond market re-opens following a six-month hiatus, ratings agency Fitch has praised recent changes in cat bond investment guidelines and swap counterparty structures as “positive
-
Moody’s Investors Service has put $67.5mn of the notes on Glacier Re’s $180mn Nelson Re cat bond on review for a possible downgrade after the (re)insurer significantly upped its Hurricane
-
Ratings agency Standard & Poor’s (S&P) has extended the maturity date of excess liability company Oil Casualty Insurance’s indemnity-triggered casualty cat bond, Avalon Re, by a further t
-
Fitch Ratings has upgraded the class B notes of Fremantle – Brit Insurance’s three-year catastrophe swap deal – as the likelihood of a loss is diminishing with the risk period movin
-
Standard & Poor’s (S&P) has withdrawn its ratings on three bank loans issued by Emerson Re – the $500mn all-debt sidecar vehicle set up by Citadel’s CIG Re and New Castle Re in 2007
-
Global broker Aon Benfield has established a new investment management firm as part of its bid to launch a dedicated insurance-linked securities (ILS) fund, in what has been described as a “ver
-
SCOR has updated the notional portfolios used to model the attachment and exhaustion points on its catastrophe bonds Atlas Re III and Atlas Re IV, in a reset which became effective on 9 February. Acc
-
Hannover Re has finally closed its $200mn sidecar, Kepler Re, three months ahead of its scheduled maturity, after shelving the renewal of the vehicle earlier this year due to market conditions. Hanno
-
(Re)insurance broker Willis Group has developed a parametric index for offshore Gulf of Mexico (GOM) energy exposures, which it hopes will help halt the shrinking of the pool of capacity for the peri
-
Liberty Mutual has completed its third Mystic Re series cat bond – a $225mn US wind and quake transaction – taking 2009 insurance-linked securities (ILS) issuance to $575mn. The size of t
-
Contingent capital, pre-event bond issuance and private reinsurance products are emerging as the favoured solutions for funding the Florida Hurricane Catastrophe Fund’s (FHCF) potential $21bn c
-
The Class A notes of Ajax Re – Aspen Insurance’s $100mn 2007 earthquake cat bond – have been placed on CreditWatch negative by ratings agency Standard & Poor’s (S&P), as it aw
-
US insurer Chubb completed its $150mn East Lane Re III Florida wind indemnity cat bond earlier this month, demonstrating that the insurance-linked securities (ILS) market is open once again. Goldman
Most Recent
-
Louisiana Citizens bond Bayou Re upsizes 83% to $275mn
19 April 2024 -
Allstate pegs March pre-tax cat losses at $328mn
18 April 2024 -
PFZW’s ILS allocation drops 9% in Q1 to $8.3bn
18 April 2024