hurricane Sandy

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Credit Suisse moves Sandy side-pockets back to main portfolio

Insurance-linked securities and reinsurance-linked investments manager Credit Suisse has now fully resolved the potential exposure its CS Iris Low Volatility Plus Fund Limited had to last years hurricane, or superstorm, Sandy event and has moved side-pocketed investments back into the main fund portfolio.When a catastrophe event strikes and the estimates read the full article →

Successor X V-F4 catastrophe bond notes climb back towards par

Over the last few weeks, secondary market pricing indications from catastrophe bond trading desks show that the hurricane Sandy threatened Successor X Ltd. (Series 2011-3) Class V-F4 cat bond notes are considered by investors to be increasingly less likely to face any losses from the superstorm.The pricing indications from secondary cat read the full article →

PCS stays at $18.75 billion industry loss estimate on hurricane Sandy

The latest re-survey of hurricane Sandy insurance industry loss estimates has now been completed and published by Property Claim Services (PCS). The loss estimate for Sandy has not changed after this re-survey, it remains at $18.75 billion, and PCS told us that it is going to perform another re-survey in read the full article →

Lancashire reacts creatively to third-party reinsurance capital, settles Sandy ILW

Insurance and reinsurance group Lancashire Holdings announced its first-quarter 2013 earnings today, revealing what looks like a decent quarter helped by a lack of catastrophe losses achieving particularly strong return on equity compared to a year earlier. CEO Richard Brindle mentioned the impact of third-party capital inflows on the reinsurance marketplace, read the full article →

PCS re-survey leaves hurricane Sandy loss estimate at $18.75 billion

According to an announcement from reinsurance-linked investment manager CATCo Investment Management, the latest re-survey of hurricane Sandy loss estimates has now been completed and published by Property Claims Services (PCS). After hurricane, or superstorm, Sandy struck the U.S. northeast last year, PCS first reported the industry loss estimate as $11 read the full article →

Credit Suisse begins to resolve hurricane Sandy side-pockets

As the level of uncertainty surrounding the insurance industry loss from hurricane Sandy reduces, investment managers with exposure to the storm are beginning to resolve the situation around side-pocket investments. As we wrote at the start of February, the DCG Iris ILS fund is making progress on merging C Shares read the full article →

Lancashire’s $20 billion trigger ILW may offset Sandy losses

Where the final industry loss estimate for hurricane Sandy ends up means more to some companies than others. In particular firms which have reinsurance contracts, industry loss warrants (ILWs) or insurance swaps with a trigger set at the $20 billion level are particularly interested in the next update from Property read the full article →

S&P remove Residential Re 2011 & 2012 cat bond notes from CreditWatch and affirm

Rating agency Standard & Poor’s have resolved the rating uncertainty on two aggregate tranches of catastrophe bond notes from USAA’s Residential Reinsurance 2011 Ltd. (Series 2011-1) and Residential Reinsurance 2012 Ltd. (Series 2012-1) transactions. Both tranches had been on CreditWatch since the 6th November due to the potential impact of read the full article →

Secondary catastrophe bond price return rises accelerate in February

Over the last two weeks the index we follow that tracks the price return of the outstanding catastrophe bond market has risen at a faster rate, after the start of the year began a little sluggishly. It's time for another of our regular looks at the Swiss Re Cat Bond read the full article →

Successor X V-F4 catastrophe bond notes still in the doldrums over Sandy

The latest secondary market pricing indications from catastrophe bond trading desks show that the hurricane Sandy threatened Successor X Ltd. (Series 2011-3) Class V-F4 cat bond notes continue to be considered at risk by investors. Pricing indications are a good measure of investor sentiment and while the average price has risen read the full article →