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Zurich Financial has announced the completion of its $225m catastrophe bond, Lakeside Re II Ltd. The three year deal will protect its subsidiaries Zurich American Insurance Co. Ltd. and Zurich Insurance Co. Ltd. against potential claims from certain qualifying earthquakes across the state of California. The offering is said to have been oversubscribed although Zurich […]

Zurich is preparing to launch a $225m (remember that could rise) catastrophe bond to provide it with protection against earthquakes in California. The transaction will be issued by Cayman Islands based SPV Lakeside Re II Ltd.

The Lakeside Re III Ltd. catastrophe bond which completed in December brought benefits to sponsoring insurance group Zurich beyond purely transferring risk to the capital markets. The $270m U.S. and Canada earthquake cat bond provides Zurich with a multi-year source of collateralized reinsurance indemnification on an annual aggregate basis. It is Zurich’s third cat bond in […]

The two firms who played leading roles in bringing the recently completed Lakeside Re III Ltd. catastrophe bond to market for sponsoring insurance group Zurich have spoken out about their roles in the deal. The $270m earthquake cat bond provides Zurich American Insurance, Zurich Insurance Co. Ltd. and some subsidiaries with a three-year source of […]

Another catastrophe bond has completed in 2012 and once again it has upsized before the deal closed. Insurance group Zurich’s latest cat bond transaction Lakeside Re III Ltd., the third in the Lakeside series of deals, completed in the last week and upsized by $45m, from the $225m it was initially marketed at, to close […]

Insurance group Zurich is returning to the catastrophe bond market with the third deal in the Lakeside cat bond series. Lakeside Re III Ltd. see’s Zurich looking to replace and also expand the cover that their last cat bond Lakeside Re II, which matures at the end of 2012, provided. Once completed Lakeside Re III will […]

Having written in the last week about the volume of catastrophe bonds which are listed on the stock exchanges  in Bermuda and the Cayman Islands I thought it would be a good idea to list them out by domicile for your information. We are going to include this information into a new catastrophe bond Deal […]