hurricane Sandy

One of the defining features of hurricane Sandy has been the difficulty that some have found in understanding their loss experience from the storm. Industry loss estimates have risen steadily ever since the superstorm struck the U.S. northeast in October and latest estimates range from PCS’ reported industry loss estimate of $18.75 billion up to […]

It’s time for another of our regular looks at the Swiss Re Cat Bond Performance Indices, to see what they can tell us about pricing and returns in the secondary market for catastrophe bonds and the markets general sentiment. When we last looked a fortnight ago gains for both indices had slowed in the new […]

Some of the latest pricing indications for secondary catastrophe bonds show that investors have real concerns that the final industry loss total from hurricane Sandy could be sufficiently high to trigger the Successor X Ltd. (Series 2011-3) Class V-F4 notes. The Successor notes are the last cat bond which is considered seriously at risk of […]

Credit Suisse has issued an updated event report on hurricane Sandy in regards to the storms expected impact to the asset managers CS IRIS Low Volatility Plus fund, and as a result the DCG Iris ILS fund for which CS Iris is the master fund. Credit Suisse has increased its estimate of the insured industry […]

Reinsurance broker Aon Benfield’s catastrophe model development arm Impact Forecasting released its latest annual study of catastrophe events and the resulting economic and insured losses yesterday. The Annual Global Climate and Catastrophe Report looks back at the disasters of 2012 and provides statistics and analysis on the year versus prior loss years. Hurricane Sandy, unsurprisingly, […]

The second estimate of hurricane Sandy insured losses has been released by Property Claims Services (PCS) this week. The first estimate of $11 billion which PCS reported in November has been increased by 70% to a new total of $18.75 billion. This number is very close to the total of reported loss estimates from insurers […]

It’s two weeks since we last looked at the Swiss Re Cat Bond Performance Indices, to see what they can tell us about pricing and returns in the secondary market for catastrophe bonds, and the indices have continued to make gains although the upwards trajectory has slowed significantly. When we last looked the indices were […]

In its latest quarterly report on the catastrophe bond and insurance-linked securities market reinsurance broker Aon Benfield takes a look at some of the cat bonds which were marked down due to hurricane Sandy. A selection of cat bonds faced greater mark-to-market losses than the rest due to the higher potential for loss. Despite mark-to-market […]

Both the primary and secondary catastrophe bond markets were subdued in December as the markets participants continued to assess the fall-out and industry losses that hurricane Sandy had caused. Many insurers and reinsurers had been forced to put their planning and purchasing of U.S. hurricane reinsurance and retrocession on hold and this is thought to […]

Fitch Ratings has published a report looking at the total amount of reported insured and reinsured loss estimates for hurricane Sandy damage that have been announced by insurers and reinsurers since the storm struck the U.S. northeast back in October. Loss estimates have been coming in thick and fast through December and the total amount […]