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No direct capital requirement for catastrophe risk in BCAR update: A.M. Best

Rating agency A.M. Best has changed a proposed update to its Best’s Capital Adequacy Ratio (BCAR) that would have seen catastrophe risk become a direct capital requirement and has also reduced the emphasis on catastrophe tail risks in the capital adequacy calculation.A.M. Best published a draft update to its BCAR read the full article →

Moody’s updates catastrophe bond rating methodology

Rating agency Moody's Investors Service has published an updated version of its rating methodology for catastrophe bonds, clarifying the firms approach to monitoring in-force cat bonds and mortality bonds, while making editorial changes to the methodologies text for clarity.Currently, Moody's does not rate any outstanding catastrophe bonds, but the rating read the full article →

Fitch updates insurance-linked securities rating criteria

Fitch Ratings has published an updated version of its insurance-linked securities (ILS) rating criteria and methodology, with a number of changes to how it handles assessing ILS and catastrophe bonds but none have affected any existing ratings.Fitch has had increasing success in recent months in the ILS space, being assigned read the full article →

Hedge fund reinsurers ‘not a new business model’, says A.M. Best

The hedge fund backed reinsurance mode which seeks to leverage premium inflows as investment capital in hedge fund strategies in an attempt to outperform on the asset-side, is not treated as a new business model by rating agency A.M. Best.The hedge fund reinsurer, typically formed by or in cooperation with read the full article →

Moody’s consolidates its catastrophe bond rating methodology

Rating agency Moody's Investor Services has published a new version of its methodology and criteria for rating catastrophe bond transactions. The document, published yesterday, consolidates  into a single document and replaces several older publications which defined Moody's approach to rating cat bonds.The document titled, Moody’s Approach to Rating Catastrophe Bonds, read the full article →

Fitch updates its insurance-linked securities (ILS) rating criteria

Fitch Ratings has completed a periodic review and published an updated version of its criteria report for rating insurance-linked securities (ILS) including catastrophe bonds. The criteria report was last updated a year ago and Fitch have brought it up to date in terms of data, reflecting any changes to legal read the full article →

A.M. Best publishes updated criteria reports for catastrophe bonds and sidecars

Back in December we covered ratings agency A.M. Best's request for comments on updated draft versions of their criteria reports which apply to catastrophe bonds and sidecar reinsurance vehicles. The comment period ended last week and now A.M. Best have published the final updated versions of the criteria reports.The changes read the full article →

A.M. Best requests comments on draft criteria reports for cat bonds and sidecars

Ratings agency A.M. Best have published four updated draft criteria reports which relate to the insurance-linked securities market. They have updated and published draft criteria reports for their rating methodology for natural catastrophe bonds and sidecars. A.M. Best are requesting comments from market participants or other interested parties, so now read the full article →