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The confusion around whether the Nelson Re catastrophe bond from Glacier Re is going to make a payout to investors continues after the deal was extended again a couple of days ago. This document from the Cayman Islands Stock Exchange shows that an extension notice was submitted on the 28th November, extending the deal until […]

Some confusion has come to light over the Nelson Re Ltd. catastrophe bond which was thought to have been triggered and to have lost close to $27m of investors principal. Back in July, sponsor Glacier Re had reported a proof of loss which would have seen investors only recover 60.6% of the $67.5m tranche of […]

It looks like the final loss attributable to the Nelson Re catastrophe bond will not be known until at least December as the $67.5m Class G notes have had their maturity extended to the 6th December 2011 according to an announcement from Glacier Re. We updated you in July on the losses suffered by Nelson […]

The final losses attributable to the Nelson Re Ltd. catastrophe bond, which was issued on behalf of sponsor Glacier Re (who are now in run-off) back in 2008, are becoming clearer today after Moody’s issued a ratings affirmation and update regarding the transaction. Nelson Re was impacted by losses from 2008’s hurricane Ike which caused […]

Interesting news from Arch Capital in their 2008 fourth quarter financial results that they have doubled their estimate of losses incurred from hurricane Ike. They say this is due to increased industry loss estimates of $18b to $21b as well as from additional information received from clients about actual losses. Seeing loss estimates doubling in […]