Archive for May, 2013

The Residential Reinsurance 2013 Ltd. (Series 2013-1) catastrophe bond, the 20th Res Re cat bond deal from prolific sponsor the U.S. primary insurer and military focused mutual insurer USAA, has now priced. Once again, as with all recent cat bond deals, the risk premium paid to investors has dropped even further by the time the […]

The tornado which struck the Oklahoma suburban town of Moore on the 20th of May looks likely to become the largest single catastrophe insured loss event of the year on U.S. soil. The U.S. National Weather Service (NWS) has now upgraded the severity of the tornado, saying that evidence shows that it was an EF-5 […]

Investment management firm Credit Suisse, which operates a number of insurance-linked securities (ILS) investment funds, has said that it does not expect that insured  losses from the Moore, Oklahoma tornado will have any impact on its funds. The tornado which struck Moore on Monday causing many fatalities and devastation to much of the property in […]

The DCG Iris insurance-linked securities fund has issued 9,174,000 new Sterling Shares at a price of 101.12 pence per share as it closes its latest round of fund-raising which we had written was underway in April. The additional shares grow the fund, which is managed by Dexion Capital as a feeder fund into a Credit Suisse managed […]

The tornado which struck Moore, Oklahoma yesterday, causing many fatalities and devastating a wide swathe of Oklahoma’s suburbs, could result in a reaction in the secondary catastrophe bond market, according to investors. The tornado is expected to cause an insured loss in the billions of dollars (how high it is too early to say) and […]

The total volume of insurance-linked listings, including catastrophe bonds and reinsurance-linked investment funds, on the Bermuda Stock Exchange (BSX) has grown by $1.25 billion through the start of 2013 to now stand at just over $7.06 billion. It is the first time the BSX has reached the $7 billion milestone and comes despite $775m of […]

Price returns in the secondary catastrophe bond market have taken another dip in the last fortnight as the pricing pressure we discussed two weeks ago here continues to exert itself on the pricing of outstanding cat bond marks. As we approach the U.S. hurricane season we’re beginning to see cat bond prices looking more seasonal […]

A huge tornado cut through the Oklahoma City suburbs yesterday mid-afternoon local-time, causing widespread devastation from a track estimated to be up to a mile wide at times. The tornado made a direct hit on the town of Moore, as a severe tornado with winds of up to 200mph and the storm has been given […]

Pension Insurance Corporation, a UK-based specialist provider of insurance solutions for defined benefit pension funds, has announced the completion of a pension buy-in transaction for UK children’s charity the National Society for the Prevention of Cruelty to Children (NSPCC). The transaction protects the NSPCC pension scheme from risks such as longevity, inflation and investment on […]

Global insurance and reinsurance broker Willis Group is seeking to increase its activity in the Asia regions capital market and investment banking focused segment of the re/insurance markets with the announcement of a new hire to its Willis Capital Markets & Advisory (WCMA) division. Effective immediately, Michael Guo has been appointed as Managing Director and […]