Archive for May, 2011

The recent tornado outbreak in the U.S. has caused significant loss of life, damage and is expected to amount to at least $5 billion (some say as high as $7 billion) in insured losses. Two classes of catastrophe bond notes issued by Residential Reinsurance 2008 Ltd. and Residential Reinsurance 2009 Ltd. have been accumulating aggregate […]

The recent run of heavy disaster losses for re/insurers from events in the U.S. seems set to continue thanks to the current flooding event caused by the record height of the Mississippi river. Flood levels have been rising over the past week as rainwater from a number of severe storms and also some snowmelt make […]

Prime Management Limited, a Bermuda based independent provider of fund administration services to onshore and offshore hedge funds with a focus on risk-linked securities such as catastrophe bonds, has joined the Bermuda Stock Exchange (BSX) as a Listing Sponsor.

Lloyd’s, the London based specialist insurance underwriting market, has announced estimated figures for the insurance markets losses from some of the recent major disasters such as the earthquakes in Japan and New Zealand and the flooding in Queensland, Australia. The total estimated insured loss that members of the Lloyd’s market will be liable for currently […]

Citizens Property Insurance, the state backed property insurer of last resort in Florida, has said that it plans to take out some reinsurance from the private market this year. The last time Citizens accessed the private reinsurance market was two years ago as they have tended to rely on a cheaper source of reinsurance from […]

Catastrophe’s caused by the recent spell of severe thunderstorm convective weather which resulted in record breaking formation of tornadoes across much of the U.S. midwest and south are likely to cost insurer Allstate as much as $1.4 billion in losses. That’s a lot for one company from an event which has only been estimated to […]

WeatherBill, a high profile technology focused provider of weather risk solutions and weather insurance for industries such as farming, has published a report looking at the impact of recent heavy rains across the U.S. Eastern Corn Belt and how that weather is likely to affect growers financially due to planting delays.

Dutch based insurer Aegon reported first quarter profits were down 12% as it posted lower investment returns, was hit by administrative charges in the UK and set aside funds to manage increasing life expectancy risk in the Netherlands. Aegon have had to increase provisioning for longevity risks as increased life expectancy threatens many life and […]

Another $250m of catastrophe bond notes which were issued by Chubb in 2007 have matured and been delisted from the Cayman Islands Stock Exchange. The first cat bond in Chubb’s East Lane series of deals, East Lane Re Ltd., provided them with cover against U.S. hurricanes in some northeastern states.

Please indulge us a moment as we reach a milestone and hit 12 years old today (normal service will be resumed shortly). We issued a press release earlier today which is copied below. We’re delighted to still be serving the reinsurance, risk transfer, cat bond and weather risk communities as their go-to website for market […]