Brit Insurance Ltd’s catastrophe bond Fremantle Ltd. has had it’s rating upgraded by Fitch Ratings today. The ClassB notes have been upgraded to ‘AA’ and the Class A and C notes have been affirmed with no rating changes. The cat bond deal, which provided Brit with coverage against U.S. hurricanes, earthquakes, European windstorms, Japanese earthquakes […]
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Swiss Re’s one year $150m California earthquake risk catastrophe bond, Redwood Capital XI Ltd., has matured and been delisted at the Cayman Islands stock exchange. The transaction matured on the 7th January and was delisted on the 19th. It’s safe to assume that it matured and made payment in full to investors as there were […]
Moody’s Investors Service has announce an upgrade for the Fremantle Limited catastrophe bond which was issued by Brit Insurance Ltd. back in June 2007. Fremantle Limited provides Brit with cover for a portfolio of risks including European windstorms (both UK storms and Europe ex-UK) , Japanese typhoons, Japanese earthquakes, California earthquakes, U.S. Midwest earthquakes (New […]
It’s been a month since we last looked at the Swiss Re catastrophe bond indices to see what they signal as to the health of the market. The downward trend in pricing which was experienced through all of December has halted and a small rebound in pricing has been seen through January.
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 […]
A lot of catastrophe bonds and reinsurance sidecars are domiciled within the Cayman Islands. At the islands recent budget address measures were announced with the aim of further developing the reinsurance sector. Examples of deals with a Cayman heritage include sidcars the (very) recent Nelson Re 2008-I, Nelson Re 2007, Zenkyorens cat bond SPV Muteki […]