hurricane Sandy

2013 began slowly for secondary market outstanding catastrophe bond prices. Looking at the Swiss Re Cat Bond Performance Indices, to see what they can tell us about the market, it’s clear that the market enjoyed its holiday as gains have been slight. The recovery of both the price and total-return cat bond indices had slowed […]

We’d like to take this chance to wish our readers, advertisers, sponsors, friends and partners a very Happy Holidays and all the best for a prosperous and successful 2013. We’ll keep you up to date on any breaking news over the festive period. As always, you can read every market news story and article on […]

The prices of outstanding catastrophe bonds in the secondary market continued to recoup mark-t0-market losses caused by hurricane Sandy last week, with both the price-return and total-return cat bond indices regaining ground. Demonstrating the resiliance of the cat bond market to major events, there are still a few bonds priced below par, but even those […]

One of the outstanding catastrophe bonds which has been considered most at risk of losses from hurricane, or superstorm, Sandy is U.S. insurer Chubb’s East Lane Re IV Ltd., particularly the Class B tranche of notes which have the lower trigger attachment point.East Lane Re IV has seen one of the largest mark-to-market price impacts […]

Insurer and reinsurer loss estimates for the impact of hurricane Sandy continue to be announced on an almost daily. Two of the largest loss estimates in recent days come from XL Group and Zurich Insurance Group. Zurich’s in particular is seen as larger than analysts had expected. Both companies have announced losses net of reinsurance […]

The estimates of re/insurance industry losses from hurricane and superstorm Sandy continue to rise with the latest, and largest to date, loss estimate coming from independent reinsurance broker Holborn. So far the highest insured loss estimate has been from risk modeller RMS who said they believe Sandy will result in losses of $20 billion to […]

The market continues to generate significant interest and buzz and as a result the news flow has been brisk again in the last week. As we head towards the end-of-year holidays we expect this to slow as focus turns to the reinsurance renewals. As always, you can read every market news story and article on […]

A number of new estimates for losses caused by hurricane Sandy have been published by insurers and reinsurers. We’re only really following estimates from those with cat bonds or where they involve the top insurers in the region and so offer a rough approximation tool for estimating where the industry loss from this event may […]

The slow recovery of many secondary market catastrophe bond prices continues in the wake of hurricane Sandy. Most of the impacted bonds which are now understood to be safe have recovered the mark-to-market losses they had seen, a number of others remain priced below par as their fate is still uncertain. Other cat bonds continue […]

American International Group, Inc., AIG for short, announced their first estimate of the losses they will suffer from hurricane Sandy claims late on Friday. The insurer waited until after the stock markets had closed before making the announcement, perhaps a sensible move given the size of their first estimate. AIG’s preliminary estimate is for a […]