Archive for November, 2010

The 2010 Atlantic tropical storm and hurricane season has certainly proved to be as active as the forecasts suggested it would be even without the volume of landfalling events that were forecast. We’re currently up to 19 names storms this year and some forecasters are suggesting that we can expect more.

Here is a copy of the Swiss Re announcement about their role in assisting with the placement of European windstorm risks through the catastrophe bond Calypso Capital Ltd. on behalf of AXA Global P&C. Calypso Capital does seem to have set off a buzz in the marketplace and commentators are suggesting this may spur on […]

Top Layer Reinsurance Ltd. the joint venture sidecar which was set up by Rennaissance Re and State Farm Mutual Automobile Insurance Company in 1999 to provide a vehicle to take only the very high layers of worldwide catastrophe reinsurance programs has had it’s rating outlook revised from negative to stable.

Guy Carpenter and its subsidiary GC Securities have issued a press release regarding their role in the recently completed Calypso Capital Ltd. catastrophe bond which they helped to issue on behalf of AXA Global P&C. They highlight that the transaction is the largest Euro denominated cat bond in the markets history (thanks to it upsizing […]

The Caribbean Catastrophe Risk Insurance Facility has announced that it expects to make payments to Barbados, Saint Lucia and St Vincent and the Grenadines under the disaster pooling facilities insurance scheme.

Further to our previous post earlier today about the new standardised swaps that the Life & Longevity Markets Association are aiming to introduce, we now have further details on these efforts to standardise deal structures from the LLMA.

The Calypso Capital Ltd. catastrophe bond issued by AXA Global P&C has closed at a significantly larger size than it was initially marketed at. The transaction began life as a €150m series 2010-1, first offering of class A notes issued under a €1.5 billion principal-at-risk variable-rate note program.

*Update: For our latest on Hurricane Tomas please view this post. Hurricane Tomas has decreased in strength and has become a tropical storm again due to the effects of wind shear. Currently heading into the Caribbean tropical storm Tomas is forecast to re-intensify and regain its hurricane status by Friday.

The non-profit trade organisation set up to address issues within the growing longevity risk transfer market, the Life & Longevity Markets Association, is working on a set of standardised longevity swap contracts to help propel the market forwards.