Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

News & Analysis Results

Montana Re cat bond upgraded as reverts back to second-event status

News 13th February 2012

Two classes of notes issued by Montana Re Ltd. in its Series 2010-1 catastrophe bond deal have been upgraded by ratings agency Standard & Poor’s. The $210m cat bond sponsored by reinsurer Flagstone Re affords them cover for U.S. hurricane, U.S. earthquake, European windstorm, Japan typhoon and Japan earthquake events. The Class C and Class […]

Read the full article

Montana Re catastrophe bond downgraded on Japan earthquake activation

News 14th June 2011

Flagstone Re’s Japan earthquake stricken catastrophe bond, Montana Re Ltd., was confirmed as activated and now on risk for subsequent events ten days ago. At the time no report had emerged to identify the impact to the catastrophe bond notes ratings. Now Standard & Poor’s have announced that the notes have indeed been downgraded as […]

Read the full article

Montana Re Ltd. catastrophe bond placed on CreditWatch negative by S&P

News 28th March 2011

Bermuda based reinsurer Flagstone Re’s $210m Montana Re Ltd. 2010 catastrophe bond has become the latest cat bond with exposure to the Japanese earthquake to have its ratings put on CreditWatch negative by Standard & Poor’s. The deal provides Flagstone Re with cover against U.S. hurricane and earthquake, European windstorm, Cayman Islands hurricane and Japanese […]

Read the full article

Montana Re was first five peril catastrophe bond to use Paradex

News 28th December 2010

The recent Montana Re Ltd. cat bond issued for Flagstone Re was the first deal to feature five different perils all of which utilise a Risk Management Solutions (RMS) Paradex index trigger. The deal also features a unique parametric ‘cat-in-a-circle’ arrangement for Cayman Islands hurricane risk. The RMS press release is below.

Read the full article