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Vesttoo, the insurance-linked securities (ILS) focused insurtech, has an investment grade ILS deal in the market, Artemis has learned, with circa $109 million of ‘BBB’ rated Vesttoo Bermudian Bay Ltd. (Vescor Series 2023-1) notes on offer that are linked to the performance of a risk pool featuring non-cat largely casualty risks.

Despite being untested in the face of a major loss event and their relatively short existence, catastrophe bonds have a strong history of paying claims and the payment timeline is actually similar to that of traditional reinsurers, according to Standard & Poor’s (S&P).

Japanese insurance group Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of MS&AD Insurance Group Holdings, has hailed the completion of the first annual aggregate Japan typhoon-only catastrophe bond, its recently sponsored Akibare Re Ltd. (Series 2016-1) deal.

Ratings agency Standard & Poor’s has assigned an investment grade rating to a catastrophe bond for the first time since 2008, as the remote risk nature of the underlying Japanese earthquake risk helped the Kizuna Re II 2015-1 cat bond to a ‘BBB- (sf)’ preliminary rating assessment.

Often the first reinsurance-linked investment manager to come out with an official statement after a catastrophe event, Swiss ILS investment manager Plenum Investments has said that it does not expect any impact to its catastrophe bond fund from Japanese Typhoon Wipha.

We hope you all had a good Christmas break and that this last weekly ‘best of’ post of 2012 helps you catch up on any news you may have missed. We’d like to wish you all the best for what looks set to be a busy 2013 for the market! As always, you can read […]

We’d like to take this chance to wish our readers, advertisers, sponsors, friends and partners a very Happy Holidays and all the best for a prosperous and successful 2013. We’ll keep you up to date on any breaking news over the festive period. As always, you can read every market news story and article on […]

The impact of hurricane Sandy on the northeast U.S. and the expected insurance industry losses, currently estimated at $7 billion to $20 billion is a credit negative event for the Combine Re Ltd. (Series 2012-1) catastrophe bond, according to rating agency Moody’s. The current estimated range of insurance industry losses would see Sandy qualify as an […]

As our readers will be aware there have been some movements in catastrophe bond bid and offer prices both as hurricane Sandy approached the U.S. coastline on Friday and so far this week. Trading was relatively light to begin with, according to various sources, as bid and offers were rarely close enough to find a […]

It transpires that the losses caused by hurricane Isaac have had an impact on an outstanding catastrophe bond. According to rating agency Moody’s, losses from Isaac have qualified under the terms of the Combine Re Ltd. (Series 2012-1) cat bond transaction. While these losses are insufficient to cause direct principal losses, they will further erode the […]