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Missouri mutuals required to buy more reinsurance post-Joplin tornado

The Missouri Department of Insurance have put new regulation in place which will require the states mutual insurers to take on more reinsurance cover to shore up their financial stability. The regulation has been prompted as a way to preemptively stop a similar run on the mutuals finances such as read the full article →

Mariah Re Ltd. Series 2010-1 served event notice, suspected triggered

Ratings agency Standard & Poor's has announced that the Mariah Re Ltd. Series 2010-1 catastrophe bond is suspected to have been triggered after its sponsor American Family Mutual Insurance Company submitted an event notice indicating that they believe the deal to have defaulted as losses have breached the attachment point.AmFam read the full article →

Mariah Re Ltd. Series 2010-2 investor principal losses likely increased

We wrote earlier today about the increase in covered losses faced by the Mariah Re 2010-1 series of catastrophe bond notes after Standard & Poor's updated the covered loss totals and downgraded the bond. Readers who've been keeping track of the fate of Mariah Re will be aware that there read the full article →

Mariah Re Ltd. Series 2010-1 catastrophe bond downgraded on growing covered losses

Ratings agency Standard & Poor's have published an update regarding the fate of the Mariah Re Ltd. Series 2010-1 severe thunderstorm catastrophe bond which provides American Family Mutual Insurance with a source of collateralized reinsurance cover. The cat bond has been at risk due to the extreme nature of the read the full article →

Mariah Re Ltd. Series 2010-2 triggered as covered tornado losses pass attachment point

Yesterday we updated you with the news that ratings agency Standard & Poor's had updated the covered loss totals for the Mariah Re Ltd. Series 2010-1 catastrophe bond transaction. The losses have been mounting from the severe tornado season in the U.S. and the holders of the $100m of Series read the full article →

Mariah Re Ltd. Series 2010-1 catastrophe bond covered losses rise further

Yesterday we wrote about Standard & Poor's recent update on the status of covered losses under the terms of the Mariah Re Ltd. Series 2010-1 severe thunderstorm catastrophe bond. The cat bond has been accumulating losses from the severe spate of thunderstorms and tornadoes which affected the U.S. over the read the full article →

Mariah Re Ltd.’s Series 2010-1 severe thunderstorm catastrophe bond notes kept on watch

The impact of the record-breaking U.S. severe thunderstorm and tornado season on exposed catastrophe bond Mariah Re Ltd. Series 2010-1 is a little clearer after ratings agency Standard & Poor's published an update on the amount of losses that have qualified under the terms of the aggregate cat bond. Losses read the full article →

Mariah Re catastrophe bond downgraded on tornado impact

As insured loss estimates from the record-setting U.S. tornado season are reported, the potential impact to exposed catastrophe bonds become clearer. The latest update on the cat bond fallout was reported today as Standard & Poor's announced that they have downgraded the ratings of Mariah Re Ltd.'s Series 2010-1 notes.The read the full article →

Mariah Re cat bond at risk due to U.S. tornadoes, placed on CreditWatch

The Mariah Re Ltd. catastrophe bond, which provides coverage to American Family Mutual Insurance for severe thunderstorms including tornadoes, has continued to incur qualifying event losses from the recent severe weather across the U.S. The events which have qualified have now resulted in sufficient covered losses for the rating of read the full article →

EQECAT puts Joplin, Missouri tornado insured loss at up to $3 billion

Risk modeller EQECAT are the first to announce an estimated insured loss figure for the tornado which struck the city of Joplin, Missouri yesterday. As we wrote yesterday, we suspected that the storm was going to contribute a sizeable loss to the aggregate losses which have been mounting in this read the full article →