european windstorm

Italian headquartered global insurer Assicurazioni Generali S.p.A. has hailed the completion of its latest and third catastrophe bond, the recently completed Lion II Re DAC transaction, as an “innovative and flexible” example of how the insurer intends to manage its capital going forwards.

Another catastrophe bond has been priced at the bottom end of an already reduced spread range, as sponsor Assicurazioni Generali S.p.A. has secured its latest catastrophe bond, the Lion II Re DAC European flood exposed transaction, at a very competitive rate.

Generali’s latest EUR 200 million catastrophe bond, the Lion II Re DAC transaction that looks to secure reinsurance protection against European perils including flood risks, has seen its suggested coupon fall below the initial launch guidance, as ILS investors demonstrate their comfort with the first Euro flood indemnity triggered bond.

Another new catastrophe bond has come to market, this time with the third visit to the cat bond market in recent years from Italian and global insurance giant Assicurazioni Generali S.p.A. with a EUR 200 million Lion II Re DAC transaction, as it seeks reinsurance protection against European perils including flood risks.

PERILS AG, the Zurich based provider of catastrophe insurance data and industry loss indices, has released a new product, a catalogue containing the gust footprints for over 200 of the largest European windstorms from 1979 to 2015.

Analysis by catastrophe risk modeller AIR Worldwide for the Association of British Insurers (ABI) underlines the potential for increasingly costly European windstorms, driven by climate change and rising temperatures.

European windstorm Egon and European windstorm Barbara are both under investigation by PERILS AG, and Aon Benfield’s Impact Forecasting unit said Egon will likely result in an insurance industry loss of over $100 million.

PERILS AG has finalised its insurance and reinsurance industry loss estimate for the UK floods in winter 2015/16 at £1.108 billion, after its fourth industry loss estimate for storms Eva – Frank has been pegged at £504 million.

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has finalised its industry loss estimate for the UK floods due to storm Desmond that struck the country in December 2015 at £604 million.

Both tranches of notes from the Calypso Capital II Ltd. (Series 2013-1) catastrophe bond issuance, which was sponsored by insurance and reinsurance firm AXA Global P&C in October 2013, have been upgraded by rating agency Standard & Poor’s.