hurricane Sandy

Insurance-linked securities and reinsurance-linked investments manager Credit Suisse has now fully resolved the potential exposure its CS Iris Low Volatility Plus Fund Limited had to last years hurricane, or superstorm, Sandy event and has moved side-pocketed investments back into the main fund portfolio.

Over the last few weeks, secondary market pricing indications from catastrophe bond trading desks show that the hurricane Sandy threatened Successor X Ltd. (Series 2011-3) Class V-F4 cat bond notes are considered by investors to be increasingly less likely to face any losses from the superstorm.

The latest re-survey of hurricane Sandy insurance industry loss estimates has now been completed and published by Property Claim Services (PCS). The loss estimate for Sandy has not changed after this re-survey, it remains at $18.75 billion, and PCS told us that it is going to perform another re-survey in 60 days time to ensure […]

Insurance and reinsurance group Lancashire Holdings announced its first-quarter 2013 earnings today, revealing what looks like a decent quarter helped by a lack of catastrophe losses achieving particularly strong return on equity compared to a year earlier. CEO Richard Brindle mentioned the impact of third-party capital inflows on the reinsurance marketplace, but stated that Lancashire is […]

According to an announcement from reinsurance-linked investment manager CATCo Investment Management, the latest re-survey of hurricane Sandy loss estimates has now been completed and published by Property Claims Services (PCS). After hurricane, or superstorm, Sandy struck the U.S. northeast last year, PCS first reported the industry loss estimate as $11 billion in November, a number […]

As the level of uncertainty surrounding the insurance industry loss from hurricane Sandy reduces, investment managers with exposure to the storm are beginning to resolve the situation around side-pocket investments. As we wrote at the start of February, the DCG Iris ILS fund is making progress on merging C Shares back into its Ordinary share […]

Where the final industry loss estimate for hurricane Sandy ends up means more to some companies than others. In particular firms which have reinsurance contracts, industry loss warrants (ILWs) or insurance swaps with a trigger set at the $20 billion level are particularly interested in the next update from Property Claims Services. Lancashire Holdings, a […]

Rating agency Standard & Poor’s have resolved the rating uncertainty on two aggregate tranches of catastrophe bond notes from USAA’s Residential Reinsurance 2011 Ltd. (Series 2011-1) and Residential Reinsurance 2012 Ltd. (Series 2012-1) transactions. Both tranches had been on CreditWatch since the 6th November due to the potential impact of hurricane Sandy on the cat […]

Over the last two weeks the index we follow that tracks the price return of the outstanding catastrophe bond market has risen at a faster rate, after the start of the year began a little sluggishly. It’s time for another of our regular looks at the Swiss Re Cat Bond Performance Indices, to see what […]

The latest secondary market pricing indications from catastrophe bond trading desks show that the hurricane Sandy threatened Successor X Ltd. (Series 2011-3) Class V-F4 cat bond notes continue to be considered at risk by investors. Pricing indications are a good measure of investor sentiment and while the average price has risen slightly since the end of […]