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The fate of the Nelson Re Ltd. catastrophe bond is still up in the air as arbitration seems as yet to be unresolved over whether the Class G tranche of cat bond notes issued by Nelson Re back in 2008 will face a loss or not, ultimately due to hurricane Ike losses. The Nelson Re […]

The saga of the Nelson Re Ltd. catastrophe bond and whether investors are to lose principal from the Class G notes or not continues to rumble on. We reported back in September that a disagreement had emerged between sponsor Glacier Reinsurance and the SPV’s administrator over whether a loss payment was due, as the administrator […]

Nelson Re Ltd, a Cayman Islands based special purpose vehicle set up to issue catastrophe bonds by Glacier Reinsurance AG, issued a news release. The release states that Glacier Re have informed Nelson Re Ltd that Glacier has incurred approximately $100m worth of claims relating to hurricane Ike. Glacier Re are evaluating the extent to […]

Despite being untested in the face of a major loss event and their relatively short existence, catastrophe bonds have a strong history of paying claims and the payment timeline is actually similar to that of traditional reinsurers, according to Standard & Poor’s (S&P).

The capital market backed reinsurance space has been busy again, with news of new third-party reinsurance capital management launches, catastrophe bonds upsizing and Allstate launching its Sanders Re cat bond. As always, you can read every market news story and article on the Artemis news blog, subscribe to our weekly email newsletter updates and for […]

The catastrophe bond and insurance-linked securities market can put one of its more unfortunate moments to bed now as the Nelson Re Ltd. catastrophe bond, whose fate had been uncertain due to arbitration claims, has finally been allowed to mature. The notes issued by Nelson Re in 2008 have now matured and been delisted from […]

Very interesting news this morning on the Nelson Re Ltd. catastrophe bond, whose fate has been uncertain for well over a year now due to an arbitration claims over whether the Class G tranche of cat bond notes issued by Nelson Re back in 2008 faced a loss of principal or not, ultimately due to […]

Collateral arrangements in catastrophe bond deals, not a subject we touch on particularly often, but something worth revisiting now that the long forecast death of the total return swap as collateral solution is almost upon us. When we last covered the total return swaps demise back in December 2011, it accounted for approximately 12% of […]

2012 has been a good year for the catastrophe bond and insurance-linked securities market so far. We’ve seen issuance this year hit the second highest level on record, we currently have just over $5.6 billion worth of 2012 transactions listed in our Deal Directory which is second only to 2007. The market has also reached […]

We’ve now seen two tropical storms in the Atlantic basin and the Atlantic hurricane season doesn’t officially begin until the 1st June, very unusual. One storm, Beryl, made landfall on the Florida coastline giving the State an early warning of what could lie ahead. Meanwhile hurricane Bud threatened the MultiCat Mexico 2009 catastrophe bond, but […]