Archive for December, 2012

The Vega Capital Ltd. Series 2010-1 catastrophe bond transaction which was issued on behalf of sponsoring reinsurer Swiss Re in December 2010 has again been said to have an increasingly positive outlook by ratings agency Moody’s. Back in February Moody’s upgraded the single tranche of Class C notes issued by Vega Capital Ltd. as the […]

2012 has been an interesting year as far as transaction pricing and the spreads of outstanding catastrophe bonds and insurance-linked securities have developed. Spreads of new cat bond transactions have been tightening throughout the year and this is a trend that reinsurer Swiss Re said would likely continue into 2013 at their recent insurance-linked securities […]

The prices of outstanding catastrophe bonds in the secondary market continued to recoup mark-t0-market losses caused by hurricane Sandy last week, with both the price-return and total-return cat bond indices regaining ground. Demonstrating the resiliance of the cat bond market to major events, there are still a few bonds priced below par, but even those […]

Twelve Capital, a Swiss based investment manager who operate a number of funds and opportunities in insurance-linked securities, catastrophe bonds, private ILS, reinsurance-linked contracts and subordinated insurance bonds, have announced a number of changes in their management team and board today. With the changes Twelve Capital aim to continue pursuing growth as they move into […]

More signs of the current attraction that third-party capital has for re/insurers in the news this morning as re/insurance group Allied World Assurance Company Holdings, AG announced its plans to grow its Allied World Financial Services platform by acquiring a minority stake in Aeolus Capital Management Ltd. Aeolus is a Bermuda-based asset manager who manage […]

One of the outstanding catastrophe bonds which has been considered most at risk of losses from hurricane, or superstorm, Sandy is U.S. insurer Chubb’s East Lane Re IV Ltd., particularly the Class B tranche of notes which have the lower trigger attachment point.East Lane Re IV has seen one of the largest mark-to-market price impacts […]

The world’s largest reinsurer Munich Re has entered into an agreement with pension risk transfer specialist Pension Insurance Corporation which will see Munich Re take on £400m (approximately $650m) of longevity risk from the insurer. Munich Re will take on the longevity risk associated with a portfolio of pension risks that Pension Corporation has covered […]

Bermuda based re/insurance group Alterra Capital Holdings has announced an increase in their total capital committed to their New Point V Limited fully collateralized reinsurance sidecar vehicle to $247m. New Point V was established by Alterra back in June with $210m of capital to create new opportunities for them, and new capacity for, in the […]

Insurer and reinsurer loss estimates for the impact of hurricane Sandy continue to be announced on an almost daily. Two of the largest loss estimates in recent days come from XL Group and Zurich Insurance Group. Zurich’s in particular is seen as larger than analysts had expected. Both companies have announced losses net of reinsurance […]

Investment manager Dexion Capital’s is moving forwards with their plans to raise additional funds for the DCG Iris Ltd. insurance-linked security fund with the publication of a new prospectus and notification of their intention to list 11.025m additional shares valued at £1 each. The successful listing of the additional shares, expected to be admitted on […]