PCS designates M7.0 earthquake in Turkey as catastrophe event

The recent earthquake affecting the Izmir region of Turkey has been designated as a catastrophe event by Property Claim Services (PCS), a division of Verisk Analytics. As a result of the designation, PCS will now analyse and track data collected from the insurance industry in the region, to derive an industry read the full article →

Hurricane Genevieve pressure implies no Mexico cat bond threat

Hurricane Genevieve remains a strong category 3 hurricane as it barrels towards the Baja Peninsula of Mexico in the Pacific, with sustained winds of 115 mph and higher gusts, but with the central pressure of the storm now rising it suggests there is no threat to the World Bank issued read the full article →

UnipolSai showed commitment to ILS with Azzurro Re II cat bond: Willis Re

Italian primary insurance company UnipolSai Assicurazioni S.p.A. demonstrated a long-lasting commitment to engaging with the insurance-linked securities (ILS) market with its recently completed EUR 100 million Azzurro Re II DAC (Series 2020-1) catastrophe bond, according to executives at Willis Re. With the successful placement of the Azzurro Re II DAC cat read the full article →

Risk of large San Andreas quake up 3 to 5-fold since Ridgecrest: Temblor

The Ridgecrest, California sequence of earthquakes has increased the risk of a major San Andreas fault earthquake event occurring, according to newly published research. The paper published by Ross Stein of specialist seismic hazard catastrophe modelling company Temblor, Inc. and Shinji Toda of the International Research Institute of Disaster Science (IRIDeS) read the full article →

Unipol set to secure €100m Azzurro Re II cat bond within price guidance

Italian primary insurance company UnipolSai Assicurazioni S.p.A. looks set to secure its latest catastrophe bond backed source of reinsurance coverage within the initial price guidance and with the European earthquake catastrophe bond Azzurro Re II DAC (Series 2020-1) still on target at EUR 100 million. Many cat bonds issued in recent read the full article →

Mexico’s parametric World Bank cat bond looks safe from M7.4 earthquake

Southern Mexico was struck by a significant Magnitude 7.4 earthquake on Tuesday at around 15.30 UTC, but while the location of the earthquake appears to have fallen within a box relevant to the parametric trigger of the World Bank supported IBRD / FONDEN 2020 catastrophe bond, it does not look read the full article →

Unipol sponsoring new €100m Azzurro Re II European quake cat bond

UnipolSai Assicurazioni S.p.A., the Italian primary insurance company, has returned to the catastrophe bond market to sponsor a new European earthquake catastrophe bond, with an Azzurro Re II DAC (Series 2020-1) transaction that targets at least EUR 100 million of reinsurance protection against quake losses for the insurers' Italian portfolio. This read the full article →

$100m MetroCat Re cat bond prices 16% above mid-point of initial guidance

The New York Metropolitan Transportation Authority’s (MTA) new  MetroCat Re Ltd. (Series 2020-1) catastrophe bond has now been priced, but at the top-end of the revised guidance after investors sought a higher return for the risk, with the deal also sticking at $100 million in size. As we explained yesterday, the read the full article →

MetroCat Re 2020 parametric cat bond pricing lifted on investor response

Price guidance for the New York Metropolitan Transportation Authority's (MTA) new catastrophe bond has been increased after investor's fed back that the initial coupon was not sufficient, we're told, with the parametric MetroCat Re Ltd. (Series 2020-1) cat bond transaction now offering a higher return. This new parametric catastrophe bond from read the full article →

New York MTA to renew MetroCat Re parametric cat bond. Launches $100m deal

The New York Metropolitan Transportation Authority (MTA) has returned to the catastrophe bond market for the third time, seeking to sponsor an at least $100 million renewal of its soon to mature parametric cat bond coverage with a new MetroCat Re Ltd. (Series 2020-1) transaction. The transport operator had secured $125m read the full article →