The Longpoint Re II Ltd. U.S. hurricane risk catastrophe bond from Travelers Indemnity Company is reported to have been upsized to $500m. That’s double the initial value the transaction was initially marketed at and further demonstrates the current health and appeal of the cat bond market. Investor demand is said to the reason for the […]
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The tail end of 2009 is proving to be an extremely busy time for the catastrophe bond market, compare it to last year when no deals were issued beyond August and it looks like a different market completely. The latest transaction to be launched is Longpoint Re II Ltd. from Travelers Indemnity Company.
The latest catastrophe bond from U.S. property & casualty insurance giant Travelers, Long Point Re III Ltd. (Series 2018-1), is set to reach the increased target size of $500 million thanks to appetite from investors we understand, so will provide the firm with its largest yet source of capital markets backed multi-peril reinsurance capacity.
U.S. primary insurer The Travelers Companies, Inc. has successfully sponsored its fourth catastrophe bond transaction with the recently completed Long Point Re III Ltd. (Series 2013-1) transaction. The second issuance under its Long Point Re III Cayman Islands domiciled SPV, this deal secures Travelers a $300m three-year source of fully-collateralized reinsurance protection against hurricanes in […]
Another catastrophe bond has increased in size while being marketed and has also seen its price guidance reduced, following the trend of larger and more keenly priced cat bonds that has been the feature of the 2013 cat bond market so far. The Long Point Re III Ltd. (Series 2013-1) deal is U.S. insurer Travelers […]
U.S. insurance company Travelers is bringing its fourth catastrophe bond to market and the second under its Long Point Re III Cayman Islands domiciled cat bond note issuing entity. Previously Travelers has tapped the cat bond market for reinsurance protection against U.S. hurricane risks in 2007 with Longpoint Re Ltd., 2009 with Longpoint Re II […]
U.S. insurer Travelers 2009 catastrophe bond issuance Longpoint Re II Ltd. was one of the transactions which saw changes to its risk profile when it was remodelled using the latest version of the RMS hurricane risk model (V. 11) at its annual reset. At the time Travelers said that it suspected the attachment point may […]
A number of new estimates for losses caused by hurricane Sandy have been published by insurers and reinsurers. We’re only really following estimates from those with cat bonds or where they involve the top insurers in the region and so offer a rough approximation tool for estimating where the industry loss from this event may […]
American International Group, Inc., AIG for short, announced their first estimate of the losses they will suffer from hurricane Sandy claims late on Friday. The insurer waited until after the stock markets had closed before making the announcement, perhaps a sensible move given the size of their first estimate. AIG’s preliminary estimate is for a […]
Another initial loss estimate from one of the larger U.S. primary insurers for damage caused by hurricane Sandy has emerged after the CEO of Hartford Financial Services Group suggested that its losses could reach $350m, which is the point at which their reinsurance coverage is triggered. The Hartford is a smaller insurer than others whose […]