Ratings agency Moody’s has published an article discussing the announcement from French reinsurer SCOR about the triggering of their catastrophe linked contingent capital facility. Just over a week ago SCOR announced that the facility had successfully been triggered and would pay them €75m due to their rising catastrophe losses.
Read the full article
Contingent capital, which provides a source of capital under certain circumstances and triggers, is becoming a more popular way to provide a predictable source of financing at exactly the times that a company requires it. The other day we wrote about French reinsurer SCOR’s contingent capital facility being triggered due to their increasing Q1 natural […]
Read the full article
French reinsurer SCOR has announced that the net losses attributable to catastrophes during Q1 2011 have reached a sufficiently high level to trigger a payment under the terms of their natural catastrophe contingent capital facility (which we first wrote about last September). As a result SCOR have issued a €75m drawdown notice under the contingent […]
Read the full article
SCOR has announced that it has finalised the launch of its new 3 year, €150m natural catastrophe coverage facility. The new facility takes the form of an event driven guaranteed equity as an innovative contingent capital solution. This new contingent capital arrangement extends the protection SCOR has from natural catastrophes (which include other reinsurance and […]
Read the full article
