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A few more details have come to light on the Swiss Re Calabash Re III deal through the press release from risk modelling agency Risk Management Solutions (RMS). The full press release is below. Risk Management Solutions (RMS) has completed the expert modeling analysis in connection with the securities offering undertaken by Calabash Re III […]

Swiss Re has released further details on it’s recent Calabash Re III Ltd catastrophe bond deal. The $100m deal provides Swiss Reinsurance America Ltd with a source of capacity for a reinsurance agreement which gives it three years of cover. The deal provides Swiss Re America with protection against losses incurred from ceded hurricane and […]

Two catastrophe bond deals have closed in the past couple of days. The first is the Ianus Capital deal issued by Munich Re to provide them with European windstorm and Turkish earthquake cover. The deal was marketed as a €100m transaction but actually came to market as €50m due to investor hesitance caused by a […]

As securities go, catastrophe bonds and insurance-linked securities are relatively short duration, with an average lifespan of three years. This means that while new issuance flows into the market there is a constant stream of transactions maturing, coming off risk and freeing up investor capital allowing it to be deployed into the new transactions. A […]

Standard & Poor’s (S&P) has now finished resolving the ratings issues surrounding 16 catastrophe bond tranches which use the Risk Management Solutions (RMS) U.S. hurricane model. The RMS model was updated earlier this year causing the probability of attachment for some cat bonds to increase, thus resulting in an assessment and new rating from S&P.

Standard & Poor’s (S&P) has begun to resolve the issues surrounding ratings of 16 catastrophe bond tranches which use the Risk Management Solutions (RMS) U.S. hurricane model. RMS released a new risk model earlier this year which S&P felt had sufficiently changed the risk profile of the transactions to warrant placing them on CreditWatch negative […]

Swiss Re is marketing another catastrophe bond on behalf of it’s subsidiary Swiss Reinsurance America Corp. Calabash Re III Ltd., the third issuance under the Calabash Re SPV, is a $100m bond designed to cover Swiss Re America from risks ceded to them through the reinsurance cover they provide to P&C insurer Ace Limited. The […]

The catastrophe bond market has seen a busy year so far in 2012 with the total volume of new cat bond issuances now sitting at $3.588 billion according to the data in our Deal Directory. As fast as the market grows from new issuances though it is of course shedding capacity at the other end […]

The catastrophe bond market has been particularly active during the month of January 2012, with an extraordinary number of new issuances coming to market, according to Swiss based investment manager and private bank Clariden Leu in their latest fund performance report. Five new cat bonds with an issuance volume of close to $800m came to […]

Ratings agency Standard & Poor’s has placed the ratings of 16 tranches of catastrophe bond deals on CreditWatch negative due to recent changes in the risk model which was used to assess these cat bonds risks at the time of their issue. All the affected transactions utilise the Risk Management Solutions (RMS) RiskLink U.S. hurricane […]