Swiss based Twelve Capital, who operate a number of investment funds and opportunities in insurance-linked securities, catastrophe bonds, private ILS and subordinated insurance bonds, have added two new hires to help strengthen its portfolio risk analysis capabilities and operations management. Announced today, the two new hires are the appointment of Andrew Townend as a Partner […]
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One week ago, rating agency Moody’s announced that hurricane Sandy would qualify as a covered event for the Combine Re Ltd. (Series 2012-1) catastrophe bond. At the time Moody’s said that the estimated range of insurance industry losses would see Sandy qualify as an aggregate event under the terms of the cat bond, but that […]
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Once again, hurricane Sandy dominated our coverage last week. The market is now waiting for updates on the estimates of insured industry losses from the storm, there may be more clarity later this week we understand. As always, you can read every market news story and article on the Artemis news blog, subscribe to our […]
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Fitch Ratings have performed some analysis on the potential impact on the re/insurance industry were the industry loss from hurricane Sandy to creep up towards the $40 billion mark. This is interesting as it’s gone very quiet on the loss estimate front in recent days and many insurers, reinsurers and the cat bond market continue […]
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There are interesting rumours floating around the market today after the Bermuda Royal Gazette said in this article that reinsurer Montpelier Re is planning to launch a London listed retrocessional reinsurance investment fund. The article from the Gazette suggests that Montpelier Re are very close to launching the listed fund vehicle which will be called […]
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The completion of French reinsurer SCOR’s latest catastrophe bond deal, Atlas Reinsurance VII Limited, last week was it turns out a first for the market, according to financial law firm Walkers Ireland. Walkers Ireland acted as Irish legal and tax counsel, as well as listing agent for the transaction and it was the first cat […]
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As we hinted at the other day, there is more to come from the catastrophe bond market this month, and the first deal is from the most prolific primary insurer sponsor of cat bonds, USAA. This deal which is now being marketed to investors, with be the 19th Residential Re transaction from USAA in our […]
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Once again, Swiss insurance-linked securities investment fund manager Plenum Investments is proactively updating its investors on the developing hurricane Sandy situation and the potential impact the storm could have on exposed catastrophe bonds and its ILS fund. In their latest update Plenum acknowledged the uncertainty that exists over the insured losses from Sandy and says […]
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Ratings agency Moody’s has published some additional insight on the impact of hurricane Sandy on reinsurers in their latest CreditOutlook report today. The article discusses the insight gained from a number of reinsurers earnings announcements and what they have said about the potential impact Sandy will have on their fourth quarter earnings. Moody’s says that […]
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AQR Capital Management, an investment management firm based in Greenwich, CT,are the latest with a reinsurance-linked investment offering to benefit from a commitment of funds from a U.S. public body pension fund. The Teachers’ Retirement System of the State of Illinois is the 39th largest in the U.S. and manages the pensions and retirement funds […]
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Munich Re, the largest reinsurance company in the world, has told its investors that it currently expects to suffer a loss from hurricane Sandy in the “mid three digit million Euro” range. That could put their losses around the $640m mark, which is a fairly significant impact to the firm if this is the case. […]
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Hurricane Sandy will likely cause the largest payout to date for the Microinsurance Catastrophe Risk Organisation (MiCRO) in Haiti. The impact of Sandy on Haiti was severe, with around 54 deaths, 18,000+ people displaced and the micro-lending firm Fonkoze suggesting that as many as 12,000 of their customers may be eligible for a payout under […]
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Munich Re has released some comments on their recently completed Queen Street VII Re Ltd. catastrophe bond, the third to complete in recent days along with Mythen Re and Atlas Re VII which we covered earlier. This leaves the cat bond market pipeline a little quiet although we understand there will be more to come […]
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As expected, rating agency Standard & Poor’s have placed two aggregate tranches of catastrophe bond notes from USAA’s Residential Reinsurance 2011 Ltd. (Series 2011-1) and Residential Reinsurance 2012 Ltd. (Series 2012-1) transactions on CreditWatch with negative implications. We suggested this was likely to happen in this article last Friday, we also followed up on the […]
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