windstorm

Perils AG, the company set up by a group of leading reinsurers to aggregate and distribute European catastrophe loss data (blogged about previously here) has released it’s own estimates for European windstorm Klaus which hit France and Spain in January. They’ve released a figure of €1.55b ($2.12b) which comes in the range issued by the […]

USAA, who specialise in providing insurance to those in the U.S. military and long time sponsor of catastrophe bonds, is returning to the market once again and is currently marketing it’s 13th issuance in the Residential Re series.  Residential Reinsurance Ltd is their Cayman Islands based special purpose vehicle, it issued it’s first cat bond […]

Munich Re and Tokio Marine Nichido Fire have closed a private catastrophe swap deal based on the Risk Management Solutions (RMS) Paradex-Europe Windstorm industry loss index. This transaction brings the total notional amount of risk transferred using Paradex to in excess of $250m. Having indices of losses available (via third-party sources) which can be utilised […]

Marsh has teamed up with Berkshire Hathaway to create a windstorm insurance program aiming to bring capacity back to the hard-hit energy companies who operate in the Gulf of Mexico. The program has been called the Cost and Certainty Coverage Program (or Triple C for short) and carries $500m of aggregate, annual capacity. Underwritten by […]

Advances in risk modelling, measurement and management are all pointing towards the emergence of a much more fluid market for catastrophe instruments in Europe particularly with regards to windstorms (such as the recent windstorm Klaus). Right now there have been a few catastrophe bonds which have European windstorm exposure but no market comparable to the […]

Another winter storm is beginning to impact Europe today. France’s west coast has been subjected to winds of 100kph and Paris is forecast to face winds of up to 120kph through the night (75mph). It’s not looking to be quite as severe as the storm of two weekends ago but the severity of the weather […]

Initial loss estimates from windstorm Klaus which struck Europe at the weekend (France and Spain specifically) have been released by two risk modelling firms. AIR Worldwide and EQECAT have both released their officia figures. The loss estimates are quite different as is usual in these cases, we expect the final losses to sit somewhere in […]

Hopefully you will have read our previous post about the damaging windstorm which hit France and Spain at the weekend. Windstorm Klaus tore through these areas causing widespread damage and killing upwards of twenty people. Loss estimates have not yet been released but there is a risk of impact to catastrophe bonds which have exposure […]

It’s often overlooked that there is catastrophe bond exposure in Europe, most of the coverage is related to hurricanes in the U.S. or earthquakes. Only when an event occurs of the magnitude of this past weekends windstorm does it suddenly become a talking point in the insurance-linked securities market. A deadly storm (Klaus) blew in […]