Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

hurricane Sandy


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

2nd May 2013

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, but stated that Lancashire is […]

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

25th March 2013

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 billion in November, a number […]

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Credit Suisse begins to resolve hurricane Sandy side-pockets

27th February 2013

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 back into its Ordinary share […]

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

25th February 2013

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 Claims Services. Lancashire Holdings, a […]

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

19th February 2013

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 hurricane Sandy on the cat […]

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

18th February 2013

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 slightly since the end of […]

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