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The fate of the Nelson Re Ltd. catastrophe bond is still up in the air as arbitration seems as yet to be unresolved over whether the Class G tranche of cat bond notes issued by Nelson Re back in 2008 will face a loss or not, ultimately due to hurricane Ike losses. The Nelson Re […]

The saga of the Nelson Re Ltd. catastrophe bond and whether investors are to lose principal from the Class G notes or not continues to rumble on. We reported back in September that a disagreement had emerged between sponsor Glacier Reinsurance and the SPV’s administrator over whether a loss payment was due, as the administrator […]

Nelson Re Ltd, a Cayman Islands based special purpose vehicle set up to issue catastrophe bonds by Glacier Reinsurance AG, issued a news release. The release states that Glacier Re have informed Nelson Re Ltd that Glacier has incurred approximately $100m worth of claims relating to hurricane Ike. Glacier Re are evaluating the extent to […]

Despite being untested in the face of a major loss event and their relatively short existence, catastrophe bonds have a strong history of paying claims and the payment timeline is actually similar to that of traditional reinsurers, according to Standard & Poor’s (S&P).

Global reinsurer capital has risen by 1% so far this year, reaching $510 billion by June 30th according to reinsurance broker Aon Benfield’s latest Aon Benfield Aggregate study. The report highlights the impact of the capital markets which have been responsible for boosting reinsurer capital at a time when traditional business models have struggled.

The catastrophe bond and insurance-linked securities market can put one of its more unfortunate moments to bed now as the Nelson Re Ltd. catastrophe bond, whose fate had been uncertain due to arbitration claims, has finally been allowed to mature. The notes issued by Nelson Re in 2008 have now matured and been delisted from […]

Very interesting news this morning on the Nelson Re Ltd. catastrophe bond, whose fate has been uncertain for well over a year now due to an arbitration claims over whether the Class G tranche of cat bond notes issued by Nelson Re back in 2008 faced a loss of principal or not, ultimately due to […]

Collateral arrangements in catastrophe bond deals, not a subject we touch on particularly often, but something worth revisiting now that the long forecast death of the total return swap as collateral solution is almost upon us. When we last covered the total return swaps demise back in December 2011, it accounted for approximately 12% of […]

Hurricane Sandy continues to bear down on the U.S. eastern seaboard with forecasters still predicting a convergence of three weather systems that could turn Sandy into a ‘perfect storm’ (or Frankenstorm if you prefer). Sandy is forecast to converge with a low pressure system moving in from the west and cold Arctic air coming from […]

Unsurprisingly the Nelson Re Ltd. catastrophe bond saga has not yet been resolved. The uncertainty revolves around whether the investors in the Class G tranche of cat bond notes issued by Nelson Re will face a loss or not, ultimately due to hurricane Ike losses. The disagreement between the sponsor Glacier Re and others including […]