Blue Wings Ltd is a catastrophe bond which transfers the risk of severe river floods in Great Britain and earthquakes in Canada and the US excluding California. This cat bond holds two risks; earthquake in Canada and the US (excluding California), using a “modeled loss” trigger and second, river flood in Great Britain using a […]
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German insurance and reinsurance group Allianz said that attractive market conditions combined with demand from investors for catastrophe bonds helped it lock in a competitive price on the recently completed Blue Danube II Ltd. (Series 2013-1) cat bond. Interest in the transaction was strong as capital markets investors came out in force to support Allianz.
The tenth catastrophe bond of 2012 has begun marketing this week, adding to the record Q1 issuance seen so far this year (details of them all can be found in our Deal Directory). Blue Danube Ltd. is sponsored by German insurer Allianz, a regular ILS and cat bond sponsor, who tend to use the word […]
Allianz has issued a press release announcing the completion of the fourth takedown under their Blue Fin Ltd. catastrophe bond program (as we wrote yesterday). The $40m cat bond deal provides Allianz with capital markets cover for U.S. hurricane and earthquake events using a modeled loss trigger mechanism until May 2013.
Allianz has decided to redeem it’s Blue Wings Ltd catastrophe bond which covered it against floods in the UK. The deal which was completed only in April 2007 provided Allianz with $150m worth of protection against flood risks in the United Kingdom. The deal should have run until 2012. Blue Wings also provided some cover […]
A newly launched high-resolution, multi-peril UK flood model from JBA Risk Management, designed to help insurers and reinsurers to work with the governments Flood Re reinsurance facility, could also be applied to help issue a UK flood catastrophe bond.
A new report from Swiss Re finds that flood insurance losses are growing rapidly while the insurability of flood as a peril continues to prove difficult for the insurance and reinsurance sectors. No other natural catastrophe impacts as many people on an annual basis, with floods impacting an estimated 500 million people per year. Back […]
Floods are the most common natural catastrophe worldwide according to a new paper from insurance and financial services group Allianz. During 2010 the International Disaster Database EM-DAT collected data on approximately 400 natural catastrophes with at least 100 people affected or 10 deaths, of these 182 cases were caused by flooding affecting 179m people worldwide.
The year hasn’t started well for residents of Australia’s Queensland state as rainfall has continued to increase river levels and the flooding they have been suffering from for weeks has now reached a point where it is going to cause huge losses and devastation. Flash flooding from thunderstorms continues to affect the area and the […]