returns

2013 began slowly for secondary market outstanding catastrophe bond prices. Looking at the Swiss Re Cat Bond Performance Indices, to see what they can tell us about the market, it’s clear that the market enjoyed its holiday as gains have been slight. The recovery of both the price and total-return cat bond indices had slowed […]

The total return of the outstanding catastrophe bond market in 2012 beat the long-term average to come in at an impressive 10.3%. After a sluggish start to 2012 the total return of the market, as measured by the Swiss Re Global Cat Bond Performance Total Return index, climbed strongly through the rest of the year. […]

The prices of outstanding catastrophe bonds in the secondary market continued to recoup mark-t0-market losses caused by hurricane Sandy last week, with both the price-return and total-return cat bond indices regaining ground. Demonstrating the resiliance of the cat bond market to major events, there are still a few bonds priced below par, but even those […]

The slow recovery of many secondary market catastrophe bond prices continues in the wake of hurricane Sandy. Most of the impacted bonds which are now understood to be safe have recovered the mark-to-market losses they had seen, a number of others remain priced below par as their fate is still uncertain. Other cat bonds continue […]

The post-Sandy rebound in secondary catastrophe bond prices slowed in the last week. After a healthy bounce of over 1.3% when we looked last Monday, this week the Swiss Re cat bond indices have only seen very slight upward movement. This is perhaps a sign of continuing uncertainty over the eventual insurance industry loss that […]

As expected the post-Sandy recovery in the outstanding catastrophe bond markets price and total returns has now helped the Swiss Re cat bond indices to a healthy weekly increase of well over 1%. Prices of many U.S. hurricane cat bonds have increased in the last week, with just the few that are more exposed to […]

So the post-Sandy recovery of secondary market prices of outstanding catastrophe bonds has begun on cat bonds which aren’t exposed, but the last week saw further declines in both price and total returns. This is likely a reaction to increasing pessimism regarding the industry losses from the storm and also a downgrade of one exposed […]

Normally by this stage of the month we have a pretty good idea how insurance-linked security and catastrophe bond funds have performed in the prior month, but this time Sandy has muddied the waters somewhat. ILS fund managers are being slower to publish their funds October returns as calculating the impact of mark-to-market losses caused […]

After the big decline in secondary market catastrophe bond prices seen in the week after hurricane Sandy made landfall we thought it would be good to catch up on the Swiss Re Cat Bond Performance Indices again to see how the last seven days had affected them. As the impact of Sandy on exposed catastrophe […]

A week ago we wrote that as hurricane Sandy approached landfall on the U.S. northeast coast both of the Swiss Re Cat Bond Performance Indices declined, the first time we’d seen a dual decline since March. Given that this drop was prior to landfall it was clear that we would see an even larger decline […]