earthquake

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.

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 strong enough to have triggered […]

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.

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.

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.

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.

A magnitude 5.7 earthquake has struck the Salt Lake City area of Utah, U.S., the largest quake to hit the area in 28 years and big enough to cause some damage to buildings in Magna, West Valley City and Salt Lake City itself.

If the Loma Prieta earthquake that struck California’s Central Coast on October 17th 1989 were to occur again today, the economic impact would be more than six times higher at $38 billion, while insurance and reinsurance carriers would face a more than four times larger bill at $4 billion, RMS estimates.

A repeat of the 1923 Kanto earthquake in the Tokyo region of Japan could result in property losses of as high as $1.5 trillion, while a higher magnitude quake could cost the country as much as $3 trillion, catastrophe modellers Karen Clark & Company believes.

The Ministry of Finance of the Government of Peru has confirmed that it is awaiting a $60 million payout from the World Bank after a recent earthquake triggered its catastrophe bond protection, coverage that it said complements its national risk management policy.