Archive for December, 2012

Ever since the devastating earthquake and tsunami struck Japan in March 2011 the country has received a lot of attention regarding the high level of exposure to a variety of natural disasters and catastrophes. Chinese solar panel and module manufacturer Phono Solar is addressing the broad catastrophe risks in Japan by introducing a natural disaster […]

The shares issued as part of the successful initial offering from newly established reinsurance-linked investment fund the Blue Capital Global Reinsurance Fund have been admitted for trading on the London Stock Exchange’s Specialist Fund Market (SFM) this morning. The 100,100,000 of Ordinary shares (worth $1 each) are to be dual listed in Bermuda and are […]

Another initial loss estimate from one of the larger U.S. primary insurers for damage caused by hurricane Sandy has emerged after the CEO of Hartford Financial Services Group suggested that its losses could reach $350m, which is the point at which their reinsurance coverage is triggered. The Hartford is a smaller insurer than others whose […]

U.S. primary insurer Travelers has become the second of the majors to release an estimate of their losses suffered from hurricane Sandy damage. Their estimate of $1.135 billion of gross losses before tax and reinsurance recoveries suggests that their two catastrophe bonds which had exposure to Sandy, Longpoint Re II Ltd. and Long Point Re III Ltd., […]

Bermudian reinsurer Montpelier Re is moving into the reinsurance-linked investment arena with the launch of their Blue Capital asset management platform and successful launch of their first offering the Blue Capital Global Reinsurance Fund which raised $100.1m in its first share offering this week. Montpelier Re and Blue Capital see this new venture as an opportunity […]

Risk modelling firm Risk Management Solutions (RMS) held a webinar to update customers and the media on their industry loss estimate for hurricane Sandy, the Paradex modelled-loss estimate and also the potential impact to any exposed catastrophe bonds. RMS had already told clients a few weeks ago that they expected Sandy would result in an […]

Here’s a fascinating development which could have significant ramifications for the market in catastrophe bonds and insurance-linked securities, particularly in the secondary market trade in Rule 144A securitized notes. The Cayman Islands Stock Exchange (CSX) has told us that it is planning to allow full trading and transfer of any listed catastrophe bond or ILS […]

Once again the Asian Development Bank (ADB) has renewed calls for catastrophe bonds to play a part in providing risk transfer and financial protection to enable recovery from major natural catastrophes in the Asia-Pacific region. The ADB has been growing increasingly concerned about the impacts a changing climate will have on the region where 7 […]

Blue Capital Global Reinsurance Fund Limited, the newly launched reinsurance and retrocessional linked investment fund from reinsurer Montpelier Re, has successfully closed its first placement and offering of shares. The initial share offering has raised its target amount of $100.1m, through the successful issuance of 100.1 million Ordinary Shares at a price of $1.00 each, it […]

One of the largest pension risk transfer transactions on record has hit a stumbling block just prior to the deals completion. The $7.5 billion transaction would see Verizon Communications transferring $7.5 billion of the Verizon Management Pension Plan obligations to insurer Prudential. It’s a group annuity deal, where Verizon buys the annuity contract from Prudential […]