windstorm

PERILS AG seem to be experiencing very positive growth of transactions utilising their industry loss indices. They last reported the volume of transactions using their index at $250m for the first six months of 2010. Judging by their latest announcement they are successfully building on that momentum and their products are becoming widely accepted.

AIR Worldwide have announced a major update to their European wind risk model. This is particularly relevant (and good timing) as we are nearing the season for European windstorms and the insurance-linked security market expects a number of European windstorm cat bonds before the end of the year.

We wrote a few days ago about the announcement from Verisk Analytics (parent company of AIR Worldwide and the Property Claims Services (PCS) brands)  about their new high-resolution catastrophe index which they have launched. We felt the press release we’d picked up didn’t give enough information so we’ve been back in touch with them to […]

Guy Carpenter have posted a very useful recap of the natural catastrophe events which have occurred during the second quarter of 2010 on their GCCapitalIdeas blog.

Both Munich Re and GC Securities have announced the completion of the expected Shore Re Ltd. windstorm catastrophe bond which they have been assisting the Massachusetts Property Insurance Underwriting Association (MPIUA) with.

The July renewals edition of Willis Groups ‘Willis Re 1st View – Running on Empty‘ report hints at what is a growing problem for insurance-linked security and catastrophe bond investors. The regular look at the state of the reinsurance market post-renewals always contains some insight Willis has gleaned from its activities in the ILS market.

Munich Re has established a new Caymans Island SPV called Shore Re Ltd. which will be used to issue a $100m catastrophe bond on behalf of a Massachusetts state wind insurance pool. The Massachusetts Property Insurance Underwriting Association (MPIUA) has been reinsured by Munich Re America for a portion of their hurricane risks and they […]

Munich Reinsurance has begun marketing a new $100m catastrophe bond designed to provide itself with cover against certain U.S. windstorms and hurricanes.

Nationwide Mutual has returned to the catastrophe bond market with a renewal of its Caelus Re transaction. The new $200m deal is dubbed Caelus Re II Ltd. and is expected to close this week.

Chartis, formerly known as AIU Holdings, is preparing and marketing it’s first catastrophe bond issuance. The transaction is being issued by Chartis for it’s National Union Fire Insurance subsidiary in the U.S.