Archive for June, 2008

The recent Midwest floods have been pretty catastrophic and re/insurers are nervous at the extent of losses that may emerge as the full impact gets calculated and the claims start being filed. Storm Exchange, the weather risk management service company, have released a report detailing the extent of lossees that can be expected and of […]

The New York Insurance Exchange is back on the agenda. Originally opened in 1980 to much fanfare only to dissolve 7 years later as a victim of a soft market and inadequate capitalization (among other things). New York Insurance Superintendent Eric Dinello thinks that now is the time to attempt to reopen the exchange citing […]

We now have full details on the recent $150m Vega Capital Ltd. deal from Swiss Re. This three year catastrophe bond covers Swiss Re from multiple perils and utilizes an interesting reserve account approach to help buffer holders of the notes from events that occur. Full details are available in our Deal Directory.

Picture this; you have just produced 30,000 brand new cars, they’re parked up ready for transport abroad to be sold when along comes a hail storm which damages them all. Got weather risk cover? I hope so! Volkswagen has just experienced this in Germany (BBC News story here) when a hail storm dropped hail the […]

Guy Carpenter Securities have a new briefing out titled ‘Push Pandemic Out of Insurance – Capital Markets Provide Necessary Depth’. It explains that while managing pandemic risk is a very difficult task for the traditional insurance market to accommodate the depth and flexibility of capital markets may provide a robust alternative. They continue to say […]

The future is looking bright for continued growth in insurers use of the capital markets as a mechanism for hedging their risks. We’ve certainly seen no let up in deals and coverage in recent weeks. Our post the other day referred to the lack of impact being seen from the credit crunch in the catastrophe […]

In a move which looks set to escalate the growth of Hawaii’s Captive insurance and domiciling markets, Hawaii Governor Linda Lingle has signed into law a bill that enhances securitization within the states Captive insurance industry. The bill allows captive insurers to transfer risks to the capital markets more efficiently and aims to put Hawaii […]

Caelus Re Ltd. has issued $250m of variable rate notes on behalf of Nationwide Mutual Insurance and some of it’s subsidiaries and affiliates. The notes will provide capital market protection for a reinsurance agreement providing Nationwide cover for U.S. hurricanes and earthquakes. Full details in our Deal Directory.

The World Bank has now announced the launch of it’s new scheme to aid poorer nations through the use of weather derivatives. Press release below: WASHINGTON, June 24, 2008 – The World Bank is moving ahead with plans to use the weather derivative market as part of a comprehensive strategy to reduce the impact of […]

The Weather Risk Management Association (WRMA) have announced their annual changes to the board and president of the association following their annual meeting. Every year they invite new members to the board and change the presidency based on member elections. In the latest changes the following new board members have been elected for two years; […]