Combine Re Ltd

Ratings agency Moody’s is the first to issue a credit rating update related to a catastrophe bond that is exposed to the recent tornadoes in Oklahoma, including the Moore tornado event. Moody’s said in the update that losses resulting from the catastrophic tornado that struck Moore, Oklahoma on the 20th May are credit negative for […]

Ratings agency Moody’s has upgraded the $50m of Class B catastrophe bond notes issued by Combine Re Ltd. in March 2012 after the deals annual reset. The notes had been downgraded in August 2012 after a number of severe thunderstorm and tornado events qualified under the terms of the cat bond as aggregate losses. The […]

One week ago, rating agency Moody’s announced that hurricane Sandy would qualify as a covered event for the Combine Re Ltd. (Series 2012-1) catastrophe bond. At the time Moody’s said that the estimated range of insurance industry losses would see Sandy qualify as an aggregate event under the terms of the cat bond, but that […]

The impact of hurricane Sandy on the northeast U.S. and the expected insurance industry losses, currently estimated at $7 billion to $20 billion is a credit negative event for the Combine Re Ltd. (Series 2012-1) catastrophe bond, according to rating agency Moody’s. The current estimated range of insurance industry losses would see Sandy qualify as an […]

It transpires that the losses caused by hurricane Isaac have had an impact on an outstanding catastrophe bond. According to rating agency Moody’s, losses from Isaac have qualified under the terms of the Combine Re Ltd. (Series 2012-1) cat bond transaction. While these losses are insufficient to cause direct principal losses, they will further erode the […]

The Combine Re Ltd. (Series 2012-1) catastrophe bond, which was sponsored by Swiss Re America but provides cover for two reinsured parties Country Mutual Insurance Company and the North Carolina Farm Bureau’s mutual insurance arm, has become the latest cat bond to suffer losses. According to a report from rating agency Moody’s, one tranche of […]

Reinsurer Swiss Re has issued a press release discussing the completion of the Combine Re Ltd. catastrophe bond which priced, was rated and listed in the Caymans recently. Combine Re Ltd. is cited as a first for the market as it combines two reinsureds parties risks into a single cat bond transaction. Of as much […]

The Combine Re Ltd. catastrophe bond which is sponsored by Swiss Re America but combines two reinsured parties (Country Mutual Insurance Company and the North Carolina Farm Bureau’s mutual insurance arm) risks into a single cat bond transaction has completed successfully at its target of $200m. $150m of the notes, in two of the three […]

Ratings agency Moody’s has issued a press release regarding the provisional ratings they have assigned to the Combine Re Ltd. catastrophe bond which is currently being marketed to investors. Combine Re Ltd., which we wrote about when it launched here, is a two tranche cat bond being sponsored by Swiss Re America on behalf of […]

Yet another catastrophe bond is coming to market as what will be the ninth transaction of this busy 2012 begins marketing according to sources we’ve spoken with today. We don’t have a great deal of information at this stage but expect more details to become available over the next few days. Combine Re Ltd., which […]