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 […]
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Hartford Fire Insurance Co’s recently closed catastrophe bond issued by their Cayman based SPV Foundation re III Ltd. has received its rating from Standard & Poor’s. The $135m of catastrophe bond notes provide Hartford and certain subsidiaries with four years of cover against U.S. hurricanes on a per-occurrence basis.
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Hartford Fire Insurance Co. has reportedly closed its latest catastrophe bond transaction under their Foundation Re III Ltd. special purpose vehicle which is domiciled in the Cayman Islands. Bloomberg reports here that the deal closed on February 15th and secured $135m of U.S. hurricane catastrophe bond cover for Hartford and certain group companies.
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The Hartford is once again returning to the catastrophe bond market with its latest issuance in the Foundation Re series of deals. Active in cat bond issuance since 2004 when it issued its first Foundation Re transaction, The Hartford has become a regular issuer of insurance-linked securities to provide it with multi-peril reinsurance protection. This […]
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The Hartford’s upcoming catastrophe bond, Foundation Re III Ltd., has been upsized to $180m during the marketing phase. The notes have been well received by investors we hear and the Hartford is taking advantage of this to raise the deal from its initial size of $100m. Full details on Foundation Re III Ltd. are available […]
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The Hartford Fire Insurance Company is getting prepared to launch a $100m catastrophe bond through its Foundation SPV based in the Cayman Islands. Foundation Re III Ltd. is currently being marketed at a preliminary amount of $100m as a transaction designed to provide the Hartford with reinsurance on a per-occurrence basis over a four year […]
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