contingent capital facility

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Retro support helps SCOR to remain profitable so far in 2017

Despite the significant catastrophe losses facing the reinsurance industry, French reinsurer SCOR has reported a profit for the first none months of 2017, as support from its retrocession providers helped the firm to better manage its losses.SCOR's significant retro protection has helped to moderate the impact of recent catastrophes, including read the full article →

Regulation to drive contingent capital use in re/insurance: Moody’s

Rating agency Moody's Investors Service expects that use of contingent capital securities, including contingent convertibles (CoCo's) by insurance and reinsurance companies will increase as they are set to be considered as regulatory-efficient capital.Contingent capital securities and contingent convertibles have been used by banks and financial companies as a way to read the full article →

Farmers renews $500m catastrophe contingent capital facility again

Farmers Insurance Exchange (Farmers) has successfully renewed its $500 million catastrophe contingent surplus loan note facility for the third time. The facility provides Farmers with an option to access the capital markets following a major catastrophe event.The $500m facility complements the capital structure of Farmers, and provides it with further read the full article →

Germany clears way for more contingent convertibles (CoCo’s)

The German finance ministry has given the countries banks a green light to pursue the issuance of contingent convertible bonds, or CoCo's, and other contingent capital deals as it clarified the instruments tax treatment.A report from Reuters states that the German finance ministry has agreed that banks issuing contingent convertibles read the full article →