contingent convertible notes


Regulation to drive contingent capital use in re/insurance: Moody’s

Rating agency Moody's Investors Service expects that use of contingent capital securities, including contingent convertibles (CoCo's) by insurance and reinsurance companies will increase as they are set to be considered as regulatory-efficient capital. Contingent capital securities and contingent convertibles have been used by banks and financial companies as a way to read the full article →

Germany clears way for more contingent convertibles (CoCo’s)

The German finance ministry has given the countries banks a green light to pursue the issuance of contingent convertible bonds, or CoCo's, and other contingent capital deals as it clarified the instruments tax treatment. A report from Reuters states that the German finance ministry has agreed that banks issuing contingent convertibles read the full article →

Swiss Re completes dual solvency/catastrophe trigger contingent deal

Reinsurance firm Swiss Re has successfully completed its novel dual-trigger contingent capital security transaction, having sold CHF175m Swiss francs of notes linked to either the occurrence of a major decline in its solvency level or a major natural catastrophe loss. We wrote about this interesting transaction at the start of last read the full article →

Swiss Re seeking dual-trigger contingent capital cover with new transaction

Financial market sources have told us that reinsurance firm Swiss Re is looking to secure a new source of contingent capital protection for its solvency and balance sheet with the launch and marketing of a new dual-trigger contingent capital securitized bond issuance. According to sources, a contingent capital deal is currently read the full article →

Fitch rates Swiss Re’s $750m contingent capital notes

Reinsurer Swiss Re's contingent capital bond issuance came to market last month and succeeded in securing the Swiss based reinsurer a $750m source of capital protection linked to its solvency from investors. The transaction received a lot of attention in the press as it came to market and was reported read the full article →

More details emerge on Swiss Re’s contingent capital bond issuance

Almost two weeks ago we wrote about the rumoured contingent convertible bond issuance which Swiss Re would be sponsoring as a way to protect its balance sheet against declines in its capitalisation. Contingent capital used in this way can provide broad protection against many risks which could impact a reinsurer read the full article →

Banks look to contingent capital as form of catastrophe insurance

Contingent capital has been back on our radar recently thanks to the market rumours suggesting that reinsurer Swiss Re has been arranging a marketing roadshow for a contingent convertible bond issuance recently. The first time we wrote about contingent capital on Artemis it was not with reference to reinsurers however, read the full article →

Swiss Re said to be planning contingent convertible bond issuance

Reinsurer Swiss Re is in the news today regarding the use of contingent capital, after a bank told reporters at Dow Jones that the reinsurer plans to arrange a series of meetings to roadshow a contingent convertible bond issuance. The bank source is said to be one of the institutions read the full article →

Swiss Re looks to increase use of contingent capital

Contingent capital is an alternative form of capital or financing which can be triggered and made available under certain, specific pre-defined circumstances. It's becoming a flexible way for companies to arrange a source of financing which is made available at precisely the times they need it. In the case of read the full article →

Moody’s positive on contingent capital facilities, expects more

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. Moody's say read the full article →