Archive for June, 2010

Munich Re has established a new Caymans Island SPV called Shore Re Ltd. which will be used to issue a $100m catastrophe bond on behalf of a Massachusetts state wind insurance pool. The Massachusetts Property Insurance Underwriting Association (MPIUA) has been reinsured by Munich Re America for a portion of their hurricane risks and they […]

Oil spill liabilities are a hot topic right now due to the environmental catastrophe that is the Deepwater Horizon oil rig. Having spewed millions of gallons of oil into the Gulf of Mexico and now cost BP over $2.5B to attempt to stop and clean up, oil spills of this magnitude are a risk to […]

Avalon Re Ltd., the stricken catastrophe bond which has secured as much news time (read our previous coverage here) as any other deal, has finally reached it’s maturity date on the 7th June.

Washington, DC, May 27, 2010 — Members of the Weather Risk Management Association (WRMA) elected Members of the Board and a roster of association Officers at its 12th Annual Meeting in Miami, Florida held earlier this month.

“Broadening Our Reach” was the theme of WRMA’s 12th Annual Meeting, held on May 10-12, 2010 in Miami, Florida. The meeting showcased how wide the market’s reach has become with a packed audience of over 75 people hailing from North America, Europe, India and Australia.

USAA has closed it’s latest catastrophe bond issuance Residential Reinsurance 2010 Ltd. at a final size of $400m. More details on the transaction are available in our Deal Directory. The deal resulted in four tranches being created (we originally reported on three here). Classes 1 to 3 are all to be calculated on a per-occurrence […]

Allianz, with the assistance of Swiss Re, has closed it’s third catastrophe bond issuance under it’s Cayman Islands SPV Blue Fin Ltd. The $150m was issued in two tranches to provide Allianz with three years of per-occurrence and aggregate cover against hurricanes in 31 U.S. states and certain earthquakes in the U.S.

Nationwide Mutual has successfully closed it’s second catastrophe bond deal under it’s Cayman Islands SPV Caelus Re. Caelus Re II Ltd. is designed to provide Nationwide with three years of indemnity cover on a per-occurrence basis against hurricanes and earthquakes within the U.S.