MetroCat Re Ltd.

An interesting piece of research due to be published soon aims to prove that storm surge height is not directly correlated to hurricane, or storm, wind speeds at the time of landfall, rather it is the intensity and size of the storm 18 hours prior to landfall that matters.

First Mutual Transportation Assurance Co. (FMTAC), the New York State-licensed captive insurer subsidiary of the New York Metropolitan Transportation Authority (MTA), is seeking support in connection with potential future catastrophe bond transactions it may sponsor.

The successful issuance of the first storm surge catastrophe bond in the insurance-linked securities markets history, MetroCat Re Ltd. (Series 2013-1), highlights the ability of capital market investors to strongly support bespoke ILS solutions, according to bookrunner, joint structuring agent and lead manager on the deal, GC Securities.

RMS has launched a new version of its North Atlantic hurricane model suite, version 13.0. The new version will give users the ability to fully analyse and quantify the risks from hurricane driven storm surge risks and the model has already been used in a catastrophe bond deal, the first storm surge cat bond MetroCat […]

The MetroCat Re Ltd. (Series 2013-1) catastrophe bond, which is the first cat bond in the markets history to bring storm surge risk alone in a transaction to insurance-linked securities investors, has completed successfully at $200m, received its final rating and the notes and program have listed in Bermuda.

The insurance-linked securities markets first ever storm surge catastrophe bond has been extremely well-received by investors with demand helping the deal to increase in size and enabling the sponsor, First Mutual Transportation Assurance Co. (FMTAC) to secure the fully-collateralized reinsurance protection at attractive pricing terms.

The MetroCat Re Ltd. catastrophe bond, which launched recently, has been receiving attention from the broader financial press and local New York media outlets. That’s no surprise given the unusual nature of the cat bond, as the first storm surge only cat bond and the first time a U.S. transit agency has sponsored a cat […]

The catastrophe bond market in 2013 has seen a number of firsts, as new-found flexibility, reduced pricing and near-record levels of issuance make this year one of the most eventful on record for the cat bond market. Now another new sponsor is coming to market with a new peril, in the form of the first […]