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Willis Capital Markets & Advisory (WCMA),  the division of global broker Willis Group which focuses on capital markets products such as insurance-linked securities and catastrophe bonds, as well as advising insurance and reinsurance companies on mergers & acquisitions have announced the appointment of Andrea Bellone as Managing Director of their European unit. Based in London, […]

The Mystic Re III Ltd. catastrophe bond, which is the latest cat bond to be sponsored by U.S. insurer Liberty Mutual, is said to have almost doubled in size during its marketing according to sources. We’re told that Mystic Re III, which began marketing as a $150m deal, has now jumped to a $275m cat […]

Below is a copy of a press release received while I was away regarding the appointment of the Bank of New York Mellon as trustee and paying agent for the Liberty Mutual Mystic Re II catastrophe bond deal. NEW YORK, April 13 – The Bank of New York Mellon (NYSE: BK) has been appointed trustee, […]

The catastrophe bond market has seen a busy year so far in 2012 with the total volume of new cat bond issuances now sitting at $3.588 billion according to the data in our Deal Directory. As fast as the market grows from new issuances though it is of course shedding capacity at the other end […]

The rate of catastrophe bond maturities has picked up with five transactions maturing in the last few days and another two due to mature before the end of the month. With close to $2.4 billion of cat bonds due to mature by the end of this quarter there is plenty of excess capital which is […]

Having written in the last week about the volume of catastrophe bonds which are listed on the stock exchanges  in Bermuda and the Cayman Islands I thought it would be a good idea to list them out by domicile for your information. We are going to include this information into a new catastrophe bond Deal […]

Standard & Poor’s have amended a default table they use to help them rate insurance linked securitizations and catastrophe bonds. 11 cat bonds and six life mortality securitizations have been affected by the change. These default tables are amended occasionally to help S&P apply a rating that better reflects observed corporate defaults. Ratings on 8 […]

Credit rating agency Standard & Poor’s Ratings Services (S&P) has affirmed the rating for 18 tranches of natural peril catastrophe bonds, from seven issuers, after each tranche of notes went through their annual resets with no issues arising.

The year 2012 saw the highest level of indemnity trigger based catastrophe bond issuance on record, with more than 50% of all cat bond volume issued exposed to the indemnity losses of the sponsoring insurer or reinsurer, according to data from Swiss Re’s latest insurance-linked securities market report. The report suggests that this shows that […]

Some of the latest pricing indications for secondary catastrophe bonds show that investors have real concerns that the final industry loss total from hurricane Sandy could be sufficiently high to trigger the Successor X Ltd. (Series 2011-3) Class V-F4 notes. The Successor notes are the last cat bond which is considered seriously at risk of […]