Risk Management Solutions (RMS) announced that, based on its loss modeling analyses, it does not expect Windstorms Lothar and Martin to be termination events to the catastrophe bond issued by Halyard Re SPV on behalf of Sorema SA (Paris). The storms affected western Europe between Dec. 26-28, 1999. The
$17-million bond, issued on April 1, 1999, is a retrocessional structure based on losses to a designated set of contracts within the Sorema portfolio in both Japan and Europe, and has an attachment point around 80 million Euros.
Topics Catastrophe
Was this article valuable?
Here are more articles you may enjoy.
Natural-Disaster Insurance Gap Now Exceeds $420 Billion Globally 
Helicopter Crash in Georgia Kills Groom, Pilot, Hours After Huge Wedding Celebration 
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
