losses

Over the last few weeks, 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 are considered by investors to be increasingly less likely to face any losses from the superstorm.

According to the latest report from modeling, data and analytics firm CoreLogic the total value of residential property at risk of hurricane storm surge damage is now estimated at $1.1 trillion. The report contains updated estimates for both the number and value of single-family homes exposed to hurricane-driven storm-surge damage within the United States.

Rating agency Standard & Poor’s have resolved the rating uncertainty on 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. Both tranches had been on CreditWatch since the 6th November due to the potential impact of hurricane Sandy on the cat […]

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 slightly since the end of […]

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 […]

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 […]

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 probability, so a near 7% […]

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 Class 5 notes of both […]

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 will enable it to withstand […]

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 the cat bond market continue […]