Archive for April, 2014

Preliminary ratings have now been assigned to the first catastrophe bond from new sponsor Everest Reinsurance Company, Kilimanjaro Re Ltd. (Series 2014-1), which grew to $450m as investor demand helped the reinsurer increase the cover the cat bond will provide.

For the third year running, the Texas Windstorm Insurance Association (TWIA) is actively considering whether a catastrophe bond should make up part of the windstorm insurer of last resorts reinsurance and risk transfer arrangements for 2014.

Standard & Poor’s (S&P) Ratings Services, the credit rating agency, has affirmed the rating on the Bosphorus 1 Re Ltd. Turkish earthquake catastrophe bond which was sponsored by the Turkish Catastrophe Insurance Pool a year ago.

Here are the ten most popular news articles, week ending 20th April 2014, on catastrophe bonds, reinsurance capital and related risk transfer topics, from the last seven days on Artemis. To ensure you never miss a thing  subscribe to the weekly Artemis email newsletter updates.

A magnitude 7.2 earthquake which struck Mexico on Friday 18th April in the south-western state of Guerrero, came very close to the magnitude and location required to breach the parametric trigger of the MultiCat Mexico Ltd. (Series 2012-1) catastrophe bond.

The Bermuda (re)insurance market welcomed the interest of alternative capital providers in 2013, according to Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers (ABIR)

The influence third-party capital is exerting on reinsurance sector pricing, particularly property catastrophe reinsurance, is not over yet, according to the latest sector report from Keefe, Bruyette & Woods analysts.

This year the hurricane alerts and forecasts sent out by the U.S. NOAA’s National Hurricane Center (NHC) will for the first time include storm surge maps to show the potential for hurricane induced surge to cause flooding on the U.S. coastline.

The first catastrophe bond issued by Assicurazioni Generali S.p.A., one of the largest insurers in Europe and the world, is set to increase in size to between €180m and €190m while pricing on the Lion I Re Limited cat bond has dropped.

Florida Citizens takeout insurer and first time catastrophe bond sponsor Heritage Property and Casualty Insurance is issuing a second series of cat bond notes already, with the launch of Citrus Re Ltd. (Series 2014-2).