Archive for July, 2010

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is doing a good job of providing governments of the Caribbean with certainty that they will receive payments should storms or hurricanes above a certain magnitude hit their islands. It also see’s itself as a potential source of agricultural crop weather insurance.

Miller Insurance Services Ltd., one of the UK’s leading independent brokers, has announced some new hires in it’s reinsurance team. One of those hires is a well known figure in the industry loss warranty (ILW) and catastrophe derivatives marketplace and signals a move by Miller to get more deeply involved in this market.

Catastrophe bond indices such as the Swiss Re pair have dropped in the last few months due to market nervousness about the impending U.S. Atlantic hurricane season. Forecasts for the season have predicted a high number of landfalling storms and a much more severe season than last year.

It looks like we will see a third transaction from State Farm in the Merna Reinsurance series of catastrophe bond deals. Merna Re, the first deal was issued in June 2007 and Merna Re II was issued in April 2010. That sets the scene for a deal every three years  as one transaction expires and […]

The credit ratings of the Crystal Credit insurance linked security transaction have been amended by Standard & Poor’s following reporting of the latest claims activity affecting the deal.

The Bermuda Stock Exchange has been trying to increase the number of catastrophe bond entities which are listed on it for a while now. In recent years the Cayman Islands has been seen as the domicile of choice for any special purpose vehicle which was designed to issue insurance-linked securities but now it seems that […]

£1.9B worth of RSA Insurance Group plc pensioner liabilities have been reinsured in the largest to date pension buy-in transaction. Pacific Life Re has reinsured a significant proportion of the transaction featuring pensioner liabilities which are secured by Rothesay Life.

Here’s a copy of the latest press release from PERILS AG detailing the successful first half of 2010 they have experienced and with some details of the latest transaction (a private placement between Allianz Risk Transfer and Munich Re) to utilise their industry loss index. PERILS seems to be gaining traction and becoming accepted by […]

WeatherBill have today launched a new product aimed at people from the U.S. who are going on vacation and want some piece of mind that should it rain they will get some financial compensation.

Both Munich Re and GC Securities have announced the completion of the expected Shore Re Ltd. windstorm catastrophe bond which they have been assisting the Massachusetts Property Insurance Underwriting Association (MPIUA) with.