Short-dated catastrophe bonds traded in the secondary market last week, as some investors continued to show an appetite to buy these bonds, likely to hold them to maturity. Also of note, the exposed Gator Re cat bond recovered some of its discount.
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Typhoon Halong, no longer a super typhoon having weakened a little, is now a category 1 equivalent typhoon with sustained winds of around 85mph and gusts of 105mph but threatens Japan with a direct hit of winds, torrential rains, floods and a storm surge.
Rating agency Standard & Poor’s (S&P) said on Friday that it had affirmed its ratings for 29 natural peril catastrophe bond tranches, issued by 13 different special purpose vehicle issuers, after the cat bonds had their annual resets of probability of attachment.
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 […]
Standard & Poor’s (S&P) has now finished resolving the ratings issues surrounding 16 catastrophe bond tranches which use the Risk Management Solutions (RMS) U.S. hurricane model. The RMS model was updated earlier this year causing the probability of attachment for some cat bonds to increase, thus resulting in an assessment and new rating from S&P.
Strong investor demand and attractive market conditions resulted in a record first quarter of 2011 for catastrophe bond issuance said Willis Capital Markets & Advisory (WCMA) in their recently published Q1 cat bond market report. $1 billion of catastrophe bonds were issued during Q1 2011 compared to $650m in the same quarter last year.
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.
The International Finance Corporation (IFC), part of the World Bank Group, has signed new agreements with three partner index-insurance schemes in Africa to help expand access to microinsurance products for farmers and livestock herders. The schemes aim to help farmers and herders protect their crops and livestock from weather risks and natural disasters.
Regular readers of Artemis might remember our article from a year ago which asked some of our industry friends for their opinions on the prospects for insurance-linked securities and weather risk management for 2009. Looking back at that article, a lot of the predictions were accurate and it ended up being the most viewed article […]
The World Economic Forum, an independent, international organization incorporated as a Swiss not-for-profit foundation who are committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas, have released a report today which provides recommendations to help spur continued growth of the market for insurance-linked securities. […]