european windstorm

A European windstorm which formed in the mid-Atlantic from remnants of tropical storm Lorenzo which merged with a weather front that moved offshore of Canada has been named Christian and now threatens the UK and northern Europe with damaging winds gusting to 80 mph or more.

With the completion of AXA’s Calypso Capital II Ltd. European windstorm catastrophe bond occurring yesterday we now have statements from a number of the participants who had key roles in getting the largest Euro denominated natural catastrophe bond on record to market.

With the successful completion of the latest catastrophe bond to be issued, AXA’s Calypso Capital II Ltd. European windstorm cat bond, the total volume of catastrophe bond risk capital issued so far in 2013 is now officially $6.24 billion, according to the Artemis Deal Directory.

AXA’s latest catastrophe bond transaction, Calypso Capital II Ltd., has grown by 75% while marketing to now offer €350m of protection against losses from windstorm events in Europe. At the same time the price guidance has fallen to the low-end of the marketed range.

A new catastrophe bond has been launched on behalf of French insurance group AXA, the third in the insurers series of cat bonds named Calypso. Calypso Capital II Ltd. will seek to secure the insurer €200m of protection against losses from windstorm events in Europe.

Zurich based PERILS AG, the independent provider of industry-wide European catastrophe insurance data and loss indices, has announced that the total limits at risk which use PERILS industry loss data as at the 1st September 2013 reached $4.3 billion.

Rating agency Standard & Poor’s has lifted the rating on one of reinsurer Munich Re’s catastrophe bonds after the transaction went through its annual reset. The Queen Street V Re Ltd. catastrophe bond was reset at the end of June and based on changes to payout factors due to a shift in Munich Re’s European […]

The Green Fields II Capital Ltd. (Series 2013-1) catastrophe bond which completed, was rated and listed in Ireland recently, now holds the title for being the largest European windstorm focused catastrophe bond issuance in the history of the market. At €280m in size Green Fields II Capital just beats 2010’s €275m Calypso Capital to the […]

French insurer Groupama’s latest catastrophe bond deal, Green Fields II Capital Ltd. (Series 2013-1), has now completed successfully, received its credit rating from S&P and the issued have been admitted for listing in Ireland. The cat bond is actually sponsored by Swiss Re, but the protection ultimately is for Groupama.

French insurer Groupama’s latest catastrophe bond transaction Green Fields II Capital Ltd. (Series 2013-1) has been the recipient of strong investor demand, almost doubling in size while marketing to €280m in size. At the same time the price guidance has been lowered right at the bottom end of the originally marketed range.