Catastrophe bonds triggered or defaulted & their losses

This directory lists catastrophe bond losses, transactions which have been triggered, paid out or defaulted, with information on the details behind each cat bond triggering event. Click on the name of each catastrophe bond for details of the transaction, as well as more information on the loss and the reason it was triggered, defaulted or why it paid out.

While we try to make this an exhaustive list of triggered catastrophe bonds and cat bonds that have defaulted sometimes there is no public information available to us. If you know of another triggered catastrophe bond we should add to this list please contact us.

  Cat bond Sponsor Orig. size Cause of loss Loss amount ~Time to payment Date of loss
Citrus Re Ltd. (Series 2015-1) Class C Heritage Property and Casualty Insurance Co. $30m Hurricane Irma ~$5m Ongoing 2017
Citrus Re Ltd. (Series 2016-1) Class E-50 Heritage Property and Casualty Insurance Co. $100m Hurricane Irma ~$17m Ongoing 2017
Residential Reinsurance 2017 Limited (Series 2017-1) Class 10 USAA $50m Hurricanes Harvey, Irma & California wildfires ? TBC Ongoing 2017
Loma Reinsurance (Bermuda) Ltd. (Series 2013-1) Class B Argo Group $75m Hurricanes Harvey, Irma & Maria ? TBC Ongoing 2017
Loma Reinsurance (Bermuda) Ltd. (Series 2013-1) Class C Argo Group $65m Hurricanes Harvey, Irma & Maria $65m Ongoing 2017
Oak Leaf Re Ltd. (Series 2017-1) Class B Southen Oak Insurance Company $1.04m Hurricane Irma $1.04m Ongoing 2017
Manatee Re Ltd. (Series 2016-1) Class C Safepoint Insurance Company $20m Hurricane Irma $20m Ongoing 2017
IBRD / FONDEN 2017 Class A FONDEN / AGROASEMEX S.A. $150m Mexico earthquake $150m 5 weeks 2017
Gator Re Ltd. American Strategic Insurance Group $200m Aggregated storm losses $35m 11 months 2016
MultiCat Mexico Ltd. (Series 2012-1) Class C Swiss Re / FONDEN $100m Hurricane Patricia $50m 4 months 2016
Queen Street III Capital Ltd. Munich Re $150m Collateral shortfall $28,375 n/a 2014
Queen Street II Capital Ltd. Munich Re $100m Collateral shortfall $20,242 n/a 2014
Vega Capital Ltd. (Series 2010-1) Class D Swiss Re $42.6m Hurricane Sandy $7.2m 6 months 2013
Crystal Credit Ltd. Class B Swiss Re $98m Credit insurance claims $47.2m 42 months 2011
Crystal Credit Ltd. Class C Swiss Re $76m Credit insurance claims $76m 42 months 2011
Mariah Re Ltd. (Series 2010-2) American Family Mutual Insurance Co. $100m U.S. severe thunderstorms $100m 3 months 2011
Mariah Re Ltd. (Series 2010-1) American Family Mutual Insurance Co. $100m U.S. severe thunderstorms $100m 3 months 2011
Muteki Ltd. Zenkyoren $300m Tohoku, Japan earthquake $300m 3 months 2011
Vega Capital Ltd. (Series 2010-1) Class D Swiss Re $42.6m Tohoku, Japan earthquake $15.9m 6 months 2011
Avalon Re Ltd. Class C Oil Casualty Insurance Ltd. $135m Casualty losses $12.69m 35 months 2010
Kamp Re 2005 Ltd. Zurich American Insurance Corporation $190m Hurricane Katrina?? $145m 26 months 2009
Nelson Re Ltd. (Series 2008-1) Class G Glacier Reinsurance $67.5m Hurricane Ike $0m n/a 2009
Ajax Re Ltd. Class A Aspen Insurance $100m Swap Counterparty Default (Lehman Brothers) $72m ? 2008
Carillon Ltd. Class A-1 Munich Re $51m Swap Counterparty Default (Lehman Brothers) $31m ? 2008
Newton Re Ltd. (Series 2008-1) Class A Catlin $150m Swap Counterparty Default (Lehman Brothers) $4m ? 2008
Willow Re Ltd. Class B Allstate $250m Swap Counterparty Default (Lehman Brothers) $10m ? 2008
George Town Re Ltd. St Paul Re $68.5m Natural catastrophes & World Trade Center losses $0.5m 17 months 2001
Kelvin Ltd. (First event notes) Koch Energy Trading, Inc. $22m U.S. winter 2000/01 excess cold $5.1m ? 2000

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