News & Analysis Results

Loss faced by Ballantyne Re life securitization investors becomes clearer

News 16th August 2012

Scottish Re’s 2006 Ballantyne Re life insurance securitization transaction has been heading for what seems like an inevitable default for some time now. The Regulation XXX type life insurance linked transaction saw huge mark-to-market losses on the assets in the underlying collateral accounts. As a result it experienced regular failures to make interest payments resulting […]

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Lehman Brothers related cat bonds downgraded by S&P

News 30th September 2008

Standard & Poor’s have now downgraded all four of the catastrophe bonds which used Lehman Brothers Special Financing as the total return swap counterparty. The issuers of the bonds have terminated their swaps and are exploring their options and the lack of a counterparty is the reason for the following actions. ‘Ajax Re Ltd.’s class […]

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Lehman Brothers related catastrophe bonds on credit watch

News 17th September 2008

The other major catastrophe to hit the news in the past week is the demise of Lehman Brothers. As a result of the investment bank collapsing, Standard & Poor’s have downgraded four cat bonds which Lehman Brothers subsidiary Lehman Brothers Special Financing acted as swap counterparty on. The bonds in question are: – Ajax Re […]

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