montana re ltd

Ratings agency A.M. Best has revisited the Montana Re Ltd. Series 2009-1 catastrophe bond transaction to assess whether any change to the deals ratings was required. Ratings agencies often do this as cat bonds move closer to maturity and Montana Re is due to mature in December this year. A.M. Best concludes that no ratings […]

Two classes of notes issued by Montana Re Ltd. in its Series 2010-1 catastrophe bond deal have been upgraded by ratings agency Standard & Poor’s. The $210m cat bond sponsored by reinsurer Flagstone Re affords them cover for U.S. hurricane, U.S. earthquake, European windstorm, Japan typhoon and Japan earthquake events. The Class C and Class […]

Ratings agency A.M. Best have followed suit and downgraded the two tranches of the 2009 Montana Re Ltd. catastrophe bond transaction due to the significant increases in attachment probabilities brought on by the new and updated version of the Risk Management Solutions U.S. hurricane risk model.

Flagstone Re’s Japan earthquake stricken catastrophe bond, Montana Re Ltd., was confirmed as activated and now on risk for subsequent events ten days ago. At the time no report had emerged to identify the impact to the catastrophe bond notes ratings. Now Standard & Poor’s have announced that the notes have indeed been downgraded as […]

Finally it has been confirmed that Bermuda reinsurer Flagstone Re’s catastrophe bond Montana Re Ltd. Series 2010-1, issued in December 2010, has been activated by the Tohoku, Japan earthquake on the 11th March. The $60m tranche of Class E notes issued by Montana Re have been tipped to be activated since late March but now […]

A.M. Best have joined Standard & Poor’s and put the ratings of catastrophe bonds which utilise the Risk Management Solutions (RMS) U.S. hurricane model under review due to the changes in the latest version of the risk model. The model which was used to assess the cat bonds at the time of issue has undergone […]

Ratings agency Standard & Poor’s has placed the ratings of 16 tranches of catastrophe bond deals on CreditWatch negative due to recent changes in the risk model which was used to assess these cat bonds risks at the time of their issue. All the affected transactions utilise the Risk Management Solutions (RMS) RiskLink U.S. hurricane […]

A press release issued today by Bermuda based reinsurer Flagstone Re seems to suggest that they believe it likely that the earthquake in Japan on the 11th March will count as an activation event for their Montana Re Ltd. catastrophe bond.

Bermuda based reinsurer Flagstone Re’s $210m Montana Re Ltd. 2010 catastrophe bond has become the latest cat bond with exposure to the Japanese earthquake to have its ratings put on CreditWatch negative by Standard & Poor’s. The deal provides Flagstone Re with cover against U.S. hurricane and earthquake, European windstorm, Cayman Islands hurricane and Japanese […]

Risk Management Solutions (RMS) have issued a preliminary index value from their Paradex Japan earthquake index for the 11th March Tohoku earthquake. The Paradex index is used in two of the catastrophe bond transactions with exposure to the Japanese earthquake, Montana Re and Atlas VI Capital.