hurricane isaac

Insurance-linked securities and reinsurance-linked investment manager LGT Insurance-Linked Strategies is the latest manager of catastrophe linked assets to say that, at this stage, it does not expect an impact to any of the investment positions or mandates that it holds from the Moore, Oklahoma tornado event of the 20th May.

Finally a statement has come from the Louisiana state property insurer of last resort, Louisiana Citizens, which confirms that their losses from hurricane Isaac insurance claims will not be sufficient to trigger the Pelican Re Ltd. (Series 2012-1) catastrophe bond. There have been a number of statements where LA Citizens have said they expect the […]

The catastrophe bond most at risk of default from hurricane Isaac was the $125m Pelican Re Ltd. Pelican Re is an indemnity cat bond, providing cover to Louisiana Citizens, the property insurer of last resort for the state. The reason Pelican Re was felt to be most risky is that the indemnity trigger is set […]

Risk Management Solutions (RMS) have issued a new insured loss estimate for the damage caused by hurricane Isaac when it struck Louisiana and the Gulf Coast two weeks ago and also provided an update on the 2012 Atlantic hurricane season so far. RMS now estimates that insured losses from wind and storm surge impacts on […]

It transpires that the losses caused by hurricane Isaac have had an impact on an outstanding catastrophe bond. According to rating agency Moody’s, losses from Isaac have qualified under the terms of the Combine Re Ltd. (Series 2012-1) cat bond transaction. While these losses are insufficient to cause direct principal losses, they will further erode the […]

It appears that Credit Suisse were being extremely cautious when they issued a notice regarding the potential impact of hurricane Isaac on their CS Iris Low Volatility Plus insurance-linked security fund and as a result on the Dexion Capital managed DCG Iris ILS fund, which acts as a feeder for and invests its assets in […]

More anecdotal evidence suggests that Louisiana Citizens Pelican Re Ltd. (Series 2012-1) catastrophe bond will not be triggered by claims resulting from hurricane Isaac. Just the other day Richard Robertson, the chief executive of Louisiana Citizens, made comments which suggested he felt the cat bond would not be in danger. Now the Louisiana Insurance Commissioner, […]

One of the unknowns that we have been left to ponder after hurricane Isaac’s assault on Louisiana and the surrounding states is the fate, or otherwise, of the Pelican Re Ltd. (Series 2012-1) catastrophe bond. Pelican Re, issued in April 2012, provides the Louisiana state property insurer of last resort, Louisiana Citizens, with a source […]

Risk modeller AIR Worldwide has issued an updated estimate for the amount of insured losses they expect from hurricane Isaac. In line with most other estimates, AIR Worldwide say they believe that insured losses from Hurricane Isaac to onshore properties in the U.S. will be between $700 million and $2 billion. The estimate includes wind […]

Investment manager Credit Suisse have said that they expect an impact to one of their insurance-linked security and catastrophe bond funds from the industry losses caused by hurricane Isaac. An event update on Isaac was published today by another investment firm, Dexion Capital, who manage the recently launched DCG Iris ILS fund, which acts as […]