hurricane Sandy


Munich Re’s hurricane Sandy loss shows level of uncertainty around estimates

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 read the full article →

Catastrophe bond price returns show sluggish gains so far in 2013

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 read the full article →

Cat bond pricing shows investor concern over Sandy and Successor X V-F4

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 read the full article →

Credit Suisse ups Sandy estimate to $22.5 billion but lowers impact to ILS fund (and DCG Iris)

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 read the full article →

At $28 billion hurricane Sandy was the largest insured loss event of 2012: Aon Benfield

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 read the full article →

PCS ups Sandy industry loss estimate to $18.75 billion, close to current reported losses

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 read the full article →

Catastrophe bond indices recovery slows again in 2013

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 read the full article →

Hurricane Sandy loss and uncertainty has not led to cat bond spread increases

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 read the full article →

December was quiet in the catastrophe bond market due to hurricane Sandy

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 read the full article →

Reported estimates of Sandy re/insured losses pass $17 billion: Fitch

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 read the full article →