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The Newton Re Ltd. catastrophe bond transaction which utilised Lehman Brothers Special Financing division as counterparty for a total-return swap has now matured. The 2008 transaction has been consistently downgraded by rating agencies since the global financial crisis caused the collapse of Lehman Brothers. The deal matured on the 7th January 2011 but failed to […]

Catlin Group has returned to the catastrophe bond market to seek at least $200m of reinsurance cover with the issue of Galileo Re Ltd. (Series 2015-1). Interesting the deal covers a significantly higher level of risk than the firms last cat bond.

Specialist Lloyd’s focused insurance and reinsurance firm Beazley has clearly seen the attractive pricing and spread compression in the insurance-linked securities space as its financial director recently told analysts that it would consider issuing a catastrophe bond.

The recent completion of the Galileo Re Ltd. catastrophe bond, which saw demand from investors boost its size by 71% while at the same time pushing down pricing , shows the insurance-linked securities (ILS) markets continued appetite for catastrophe risk, according to Willis Capital Markets & Advisory (WCMA).

The completion yesterday of global specialty property casualty insurer and reinsurer Catlin’s latest catastrophe bond transaction, the $300m Galileo Re Ltd. (Series 2013-1), has taken 2013 catastrophe bond issuance to $6.54 billion, past the total seen in 2012 for the first time.

Global specialty property and casualty insurance and reinsurance firm Catlin is returning to the catastrophe bond market in search of capital markets backed reinsurance cover for the first time since 2008 with a new multi-peril cat bond deal, Galileo Re Ltd. (Series 2013-1).

Swiss Re’s one year $150m California earthquake risk catastrophe bond, Redwood Capital XI Ltd., has matured and been delisted at the Cayman Islands stock exchange. The transaction matured on the 7th January and was delisted on the 19th. It’s safe to assume that it matured and made payment in full to investors as there were […]

Having written in the last week about the volume of catastrophe bonds which are listed on the stock exchanges  in Bermuda and the Cayman Islands I thought it would be a good idea to list them out by domicile for your information. We are going to include this information into a new catastrophe bond Deal […]

It’s often overlooked that there is catastrophe bond exposure in Europe, most of the coverage is related to hurricanes in the U.S. or earthquakes. Only when an event occurs of the magnitude of this past weekends windstorm does it suddenly become a talking point in the insurance-linked securities market. A deadly storm (Klaus) blew in […]

Standard & Poor’s have now downgraded all four of the catastrophe bonds which used Lehman Brothers Special Financing as the total return swap counterparty. The issuers of the bonds have terminated their swaps and are exploring their options and the lack of a counterparty is the reason for the following actions. ‘Ajax Re Ltd.’s class […]