Archive for May, 2010

Further details have now emerged on the latest catastrophe bond transaction (which we wrote about earlier this month) to be issued under the Residential Reinsurance name. Residential Reinsurance 2010 has been given a preliminary size of $375m, split over three tranches, although we believe that amount could grow due to demand for this the 14th […]

The EOS Wind catastrophe bond which Munich Re has been preparing with the help of GC Securities has now completed. Originally targetting $100m of cover for Munich Re, this deal has completed at $80m.

Chartis has announced the completion of its first catastrophe bond issue, Lodestone Re Ltd. The deal completed significantly bigger than it’s initial $250m size and has resulted in Chartis obtaining $425m of  fully collteralized cover against losses from U.S. hurricanes and earthquakes until May 2013.

Below please find a press release from the Weather Risk Management Association discussing their recent survey of the Indian Weather Risk Management Market. MIAMI, FLORIDA (May 12, 2010) – The Weather Risk Management Association (WRMA) released an industry survey of the Indian Weather Market today at its 12th Annual Meeting in Miami, Florida. The survey […]

The catastrophe bond being issued by Munich Re under the Cayman Islands based SPV named Johnston Re Ltd. on behalf of the North Carolina Joint Underwriting Association and the North Carolina Insurance Underwriting Association has now completed. In a sign of investor confidence the deal upsized significantly and completed at $305m.

Allianz is preparing a third catastrophe bond issue under it’s Cayman Island SPV Blue Fin Ltd. This third series of Blue Fin Ltd. is designed to provide Allianz with per-occurrence and aggregate protection against U.S. hurricane and earthquakes for three years (until May 2013).

USAA are preparing to market their 14th catastrophe bond. The most prolific single issuer of cat bond transactions is readying yet another Residential Reinsurance Ltd. deal to be issued under their Cayman Islands based SPV. Residential Re 2010 is expected to provide similar cover to their previous transactions (usually U.S. hurricane and earthquake risks).

A surprising turn of events has struck the seemingly doomed catastrophe bond deal Avalon Re Ltd. After a series of downgrades and extensions by the rating agencies followed by Oil Casualty Insurance buying back as many of the notes as it could the once stricken notes have now received a credit rating upgrade from Standard […]

Professional services company Towers Watson has encouraged investors to diversify into reinsurance related investments in a recent publication. The firm says it’s essential that investors seek opportunities to diversify especially given ongoing economic uncertainty.

Munich Reinsurance has begun marketing a new $100m catastrophe bond designed to provide itself with cover against certain U.S. windstorms and hurricanes.