Archive for February, 2012

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Swiss Re to sponsor new catastrophe bond Combine Re Ltd. which benefits two reinsureds

Yet another catastrophe bond is coming to market as what will be the ninth transaction of this busy 2012 begins marketing according to sources we've spoken with today. We don't have a great deal of information at this stage but expect more details to become available over the next few read the full article →

Glacier Re extends Nelson Re catastrophe bond again

Unsurprisingly the Nelson Re Ltd. catastrophe bond saga has not yet been resolved. The uncertainty revolves around whether the investors in the Class G tranche of cat bond notes issued by Nelson Re will face a loss or not, ultimately due to hurricane Ike losses. The disagreement between the sponsor read the full article →

Cayman Islands Stock Exchange now lists $8.5 billion of catastrophe bonds

The Cayman Islands Stock Exchange (CSX) has released some figures on the amount of catastrophe bond programmes and series which are listed on the exchange. The CSX now has over 100 programmes and series listed with a total value of approximately $8.5 billion. The CSX listed its first cat bond, read the full article →

GC Securities on their role as bookrunner on the Queen Street V Re cat bond

GC Securities, the capital markets arm of broker Guy Carpenter, have issued a press release which discusses their role as sole bookrunner on the recently completed Queen Street V Re Ltd. catastrophe bond which was issued for sponsoring reinsurer Munich Re. This fifth Queen Street cat bond from Munich Re read the full article →

The push for weather derivatives continues in India

The Indian financial markets have been pushing for regulation to be introduced that would allow for the use of commodity options and derivatives, including weather derivatives, has been under way for nearly two years now. We've written about this previously, here and here, with the latter article discussing moves by read the full article →

Munich Re successfully closes Queen Street V Re Ltd. catastrophe bond

German reinsurer Munich Re has successfully completed their latest catastrophe bond through newly established Bermuda SPV Queen Street V Re Ltd. This is Munich Re's fifth cat bond in the Queen Street series and their twelfth cat bond they have sponsored according to our Deal Directory listings. Queen Street V read the full article →

Capital market capacity could slow the return of a hard market

Property catastrophe rates and reinsurance prices have been rising, particularly in loss affected lines of business, however despite the heavy catastrophe losses of 2011 we're not really seeing the hard market that many predicted. In a recent post on the Willis Group blog Bill Dubinsky of Willis Capital Markets & read the full article →

Catastrophe bond indices both tumble as price returns continue drop

It's two weeks since we last looked at the Swiss Re Cat Bond Performance Indices to see how they had been performing and what that could tell us about the state of the catastrophe bond and insurance-linked securities market. At the time we discussed the reasons for the continuing slide read the full article →

Swiss Re looks to increase use of contingent capital

Contingent capital is an alternative form of capital or financing which can be triggered and made available under certain, specific pre-defined circumstances. It's becoming a flexible way for companies to arrange a source of financing which is made available at precisely the times they need it. In the case of read the full article →

ILS Advisers launches, first Asia based insurance linked investment consultant

Hong Kong based HSZ Group, an independent investment manager, has today launched a new business unit called ILS Advisers. ILS Advisers has been established with the sole purpose of developing the Asian market for insurance-linked investments and they are the first investment consultant based in Asia with a focus on read the full article →