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Nelson Re catastrophe bond extended again

The confusion around whether the Nelson Re catastrophe bond from Glacier Re is going to make a payout to investors continues after the deal was extended again a couple of days ago. This document from the Cayman Islands Stock Exchange shows that an extension notice was submitted on the 28th read the full article →

Nelson Re catastrophe bond investors no longer facing losses, or are they?

Some confusion has come to light over the Nelson Re Ltd. catastrophe bond which was thought to have been triggered and to have lost close to $27m of investors principal. Back in July, sponsor Glacier Re had reported a proof of loss which would have seen investors only recover 60.6% read the full article →

Nelson Re catastrophe bond Class G notes extended to December

It looks like the final loss attributable to the Nelson Re catastrophe bond will not be known until at least December as the $67.5m Class G notes have had their maturity extended to the 6th December 2011 according to an announcement from Glacier Re. We updated you in July on read the full article →

Nelson Re catastrophe bond to pay out approx $27m to Glacier Re on hurricane Ike losses

The final losses attributable to the Nelson Re Ltd. catastrophe bond, which was issued on behalf of sponsor Glacier Re (who are now in run-off) back in 2008, are becoming clearer today after Moody's issued a ratings affirmation and update regarding the transaction. Nelson Re was impacted by losses from read the full article →

Nelson Re cat bond downgraded, may attach on developing losses from Hurricane Ike

Moody's has downgraded the ratings of one tranche of the Nelson Re Ltd. catastrophe bond transaction and placed two other tranches on review for possible downgrade. The June 2008 cat bond issued on behalf of Glacier Re is a $180m three year deal.The downgrade follows and announcement by Glacier Reinsurance read the full article →