Archive for October, 2009

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CME Group planning new locations for snowfall weather futures and options

The Chicago Mercantile Exchange (CME) has issued a press release announcing their intention to widen the scope of snowfall futures and options which can be traded on the exchange. Four new locations will be added for monthly and seasonal snowfall futures and options while new Snowfall Index Binary Options Contracts read the full article →

Caribbean Catastrophe Risk Insurance Facility working on excess rainfall product

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has joined up with the  Caribbean Institute for Meterology and Hydrology (CIMH) and Kinetic Analysis Corporation (Kinanco) to develop and test a parametric excess rainfall insurance product for catastrophic flood coverage in the region.The new rainfall product will be particularly relevant for the read the full article →

Allianz calls for catastrophe bond standardisation

In an article published on Bloomberg news today Allianz spokespersons have called for the catastrophe bond market to become more standardised and affordable. I don't think they'll get much argument there from anyone involved in this market. Standardisation would open the door to quicker issuance, more transparency and increase affordability read the full article →

AIR Worldwide dominating risk modeling & analysis of catastrophe bonds

AIR Worldwide Corporation's domination of the market for providing risk modeling and analytical services to catastrophe bond issuers appears to be growing. Back in April we wrote that they'd been involved in over $10b worth of catastrophe bond deals since the market began and had modeled 70% of the cat read the full article →

Pension Corp. urges British government to issue longevity bonds

Here's some interesting reading for a Monday morning. Pension Corporation has joined the Pension Institute (who asked this question previously) in urging the British government to issue longevity linked bonds to help pension schemes and insurers manage the risks associated with increasing life expectancy of the British population.The fact that read the full article →

Leadenhall launching two ILS funds domiciled in Dublin

Leadenhall Capital Partners have announced that they are to launch two $50m insurance linked security investment funds and both will be based in Dublin, Ireland. Through the funds Leadenhall are aiming to provide investors with access to returns from the insurance and reinsurance markets through investments in catastrophe bonds, CAT read the full article →

Crystal Credit, Swiss Re credit reinsurance securitisation not getting any worse (or better)

Back in August I wrote about the downgrade of notes in the credit reinsurance securitisation Crystal Credit which was issued by Swiss Re in 2006. At the time things were looking very bad for Crystal Credit and Standard & Poor's had downgraded the notes which were designed to provide Swiss read the full article →

Air India seeking to cover fog risk

Air India, the Indian national carrier airline, is trying to find an insurance company who will underwrite it's losses caused by fog. Fog in India is a major issue for airlines during the winter causing many delays and cancellations to flights. They sought this kind of cover last year as read the full article →

The World Bank launches MultiCat Program to help governments issue cat bonds

The World Bank has published an announcement regarding its involvement in the MultiCat Mexico 2009 Ltd. catastrophe bond transaction. Their International Bank for Reconstruction and Development organisation was involved in helping the deal come to market and now it transpires that this could be just the first deal under a read the full article →

Cat bond indices keep climbing as market recovery continues

It's time for our monthly catch up on how cataastrophe bond price and total returns are doing on the Swiss Re published indices. Here's our commentary from last month for comparison.First the Swiss Re Cat Bond Price Return Index (available to quote and chart through Bloomberg here). Last  month it read the full article →