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

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 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 →

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 →

Reinsurers should expect catastrophe losses like 2011 every 15 years: AIR Worldwide

A new report published today by risk modeller AIR Worldwide suggests that insurers and reinsurers should be prepared to face insured catastrophe losses of the magnitude seen during 2011 every 15 years. Insured losses from global natural catastrophes exceeded $110 billion in 2011 which AIR said is a 6.7% exceedance read the full article →

Residential Re 2011 notes downgraded on greater attachment probability due to Sandy

In a move which was to be expected, rating agency Standard & Poor’s have downgraded one aggregate class of notes issued in USAA’s Residential Reinsurance 2011 Ltd. (Series 2011-1)  catastrophe bond transaction as a result of the qualifying losses caused by hurricane Sandy. On the 6th November S&P placed the read the full article →

Reinsurers won’t be hurt by Sandy losses unless they reach $50 billion: S&P

A report published by Standard & Poor's suggests that reinsurers have a material cushion before losses from hurricane Sandy become a capital event. Despite continued uncertainty around the final amount of insured losses from the storm, S&P believe that the reinsurance sector's strong capital base and strong earnings this year read the full article →

Insurance industry capital position could withstand $40B loss from Sandy: Fitch

Fitch Ratings have performed some analysis on the potential impact on the re/insurance industry were the industry loss from hurricane Sandy to creep up towards the $40 billion mark. This is interesting as it's gone very quiet on the loss estimate front in recent days and many insurers, reinsurers and read the full article →

Most reinsurers to lose one fiscal quarter’s earnings from Sandy: Moody’s

Ratings agency Moody's has published some additional insight on the impact of hurricane Sandy on reinsurers in their latest CreditOutlook report today. The article discusses the insight gained from a number of reinsurers earnings announcements and what they have said about the potential impact Sandy will have on their fourth read the full article →

Munich Re puts Sandy loss in “mid three digit million Euro” range

Munich Re, the largest reinsurance company in the world, has told its investors that it currently expects to suffer a loss from hurricane Sandy in the "mid three digit million Euro" range. That could put their losses around the $640m mark, which is a fairly significant impact to the firm read the full article →

S&P put Residential Re 2011 & 2012 aggregate notes on watch due to Sandy

As expected, rating agency Standard & Poor's have placed 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 on CreditWatch with negative implications. We suggested this was likely to happen in this article last Friday, we read the full article →