catastrophe bond News

Willis Re Securities Completes €120 Million Catastrophe Bond for France’s Covéa Mutual

Willis Re Securities reports it has structured and placed EUR 120 million of insurance-linked securities (ILS) to provide reinsurance capacity for Covéa Mutual Insurance Group, France’s largest domestic property/casualty insurance group. The transaction was executed in collaboration with Willis Towers …

U.K.’s Pool Re Sells Terrorism Risk Catastrophe Bond

A U.K. reinsurer has sold the first terror catastrophe bond, giving investors the chance to lock in high yields in return for taking on terrorism risks. The 75 million-pound ($99 million) three-year bond will pay 5.9 percent interest, state-backed Pool …

Swiss Re Places $925M Cat Bond for California Earthquake Authority

Swiss Re Capital Markets Corp. has successfully structured and placed the issuance of $925 million of insurance-linked securities for the California Earthquake Authority. Swiss Re Capital Markets underwrote the transaction through two classes of principal-at-risk variable rate notes issued by …

2015 Cat Bond Activity Down Slightly from Record Levels in 2014: GC Securities

While property and casualty catastrophe bond primary issuance levels were “uncharacteristically low” in the fourth quarter of 2015, totals at year-end were only slightly lower than the all-time high levels reported in 2014, according to GC Securities, a division of …

RMS: Cat Bond Analysis Reveals Market Predictions of Price Bottom Are Optimistic

Return relative to risk values for catastrophe bonds at current prices are actually higher in 2015 than they were last year, even though recent market commentary suggests that market prices have stabilized, according to research by RMS, the Newark, Calif.-based …

Amtrak Sponsors $275M Cat Bond for Northeast Storm Surge, Wind, Quake

Amtrak is getting $275 million of reinsurance protection from the capital markets for its wholly owned captive, covering storm surge, wind and earthquake perils, according to GC Securities. GC Securities, the capital markets arm of reinsurance broker Guy Carpenter, announced …

Midyear Renewals Show Early Signs of Price Stabilization: JLT Re Report

Downward pricing pressures eased during the June 1 and July 1 renewals – the first time since January 2013 – which suggests that a reinsurance pricing floor is not far away, according to a report published by JLT Re. “Although …

A.M. Best Report: Last Resort Insurers Welcome Catastrophe Bond Market

The convergence market has provided an opportunity for entities that act as insurers of last resort to transfer some of their peak exposures to the capital markets, according to a Best’s Special Report titled, “Last Resort Insurers Welcome Relief From …

New York’s MTA Obtains $200M of Protection With Catastrophe Bonds

The Metropolitan Transportation Authority, which suffered $4.8 billion in damage from Superstorm Sandy last year, obtained $200 million of protection with bonds designed to guard against wreckage linked to storm surges.New York City’s subway operator is paying less than the …

Towers Watson Places $60M Cat Bond for New Jersey Manufacturers Insurance

Towers Watson Capital Markets Inc., a subsidiary of global professional services company Towers Watson, announced it recently arranged a private placement catastrophe bond, Sullivan Re 2013-1, which closed at $60 million. Sullivan Re represents the first foray into the insurance-linked …