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Zenkyoren loss creep makes Muteki loss seem small by comparison

The earthquake and tsunami in the Tohoku region of Japan last March took a large toll on the Japanese Zenkyoren cooperative insurer, also known as the National Mutual Insurance Federation of Agricultural Co-operatives. Zenkyoren had the largest insured portfolio exposure to the Japan quake and is one of, if not read the full article →

Muteki loss helps to offset Munich Re’s write down on Greek government bonds

Global reinsurer Munich Re have announced their third-quarter 2011 results this morning. They turned a profit of €290m during the third-quarter which has helped them to bring their nine month results into the black after the disastrous start to 2011. For the year to date, Munich Re are now in read the full article →

Alterra Capital reports loss from Muteki catastrophe bond

Alterra Capital Holdings, the insurance and reinsurance group formed from the merger of Max Capital and Harbour Point, has announced its third quarter 2011 results (which show solid performance in a not particularly easy market). One item in the results press release is particularly of interest to Artemis readers, their read the full article →

Triggered Muteki heightens Japanese insurers interest in catastrophe bonds

One of the interesting insights provided by Aon Benfield's Q2 2011 insurance-linked securities market report is the observation that Japanese insurers have demonstrated a heightened interest in catastrophe bonds lately. It seems that the triggering and eventual total loss of the Muteki Ltd. cat bond in the 11th March earthquake read the full article →

Munich Re adjusts Q1 results for payout from triggered catastrophe bond Muteki Ltd.

Munich Re have announced their results for the first quarter of 2011 this morning. As expected they have posted a significant loss due to the disasters which have occurred in the first three months of the year in Australia, New Zealand and Japan. However they have also provided some further read the full article →

Muteki Ltd. catastrophe bond triggered by Japan earthquake confirmed as total loss

Finally confirmation has emerged that the $300m Muteki Ltd. catastrophe bond issued in 2008 by Munich Re on behalf of Japanese cooperative Zenkyoren is a total loss after being triggered by the 11th March earthquake off the coast of Tohoku, Japan. The market has been expecting the loss and it's read the full article →

Plenum cat bond fund takes 3.3% hit in March due to Japanese earthquake

Plenum Investments, a respected manager with a focus on alternatives such as insurance-linked securities and catastrophe bonds, saw a 3.3% decline in their Plenum Cat Bond Fund in March due to exposure to the earthquake in Japan through cat bonds they hold positions in.Plenum's fund had a 2.1% allocation of read the full article →

Moody’s expects Japan quake to cause total loss for Muteki Ltd. catastrophe bond

Rating agency Moody's has downgraded the notes of catastrophe bond Muteki Ltd. today as they believe the deal will be triggered (which we suggested was possible earlier) and they expect a total loss of principal to investors in the transaction. The $300m Series 2008-1 deal provided protection to Munich Re read the full article →

Muteki Ltd. cat bond could have been triggered by Japan quake

We've received a number of reports over night from sources suggesting that the $300m Muteki Ltd. catastrophe bond, issued by Munich Re on behalf of Japanese cooperative Zenkyoren, has been triggered by the 11th March earthquake in Japan. The transaction is measured against the K-Net data, which we understood was read the full article →

Moody’s expects minimal losses on Japan exposed catastrophe bonds

Moody's Investor Services has some updated commentary regarding the four catastrophe bonds that are exposed to Japanese earthquakes which they have ratings for. The commentary in their ABS, ABCP & Covered Bond Quick Check report published today, suggests that the four cat bonds they rate could escape with zero or read the full article →