July 12, 2010
The Massachusetts Property Insurance Underwriting Association (MPIUA) has received a $96 million catastrophe bond issuance that transfers hurricane risk in Massachusetts to the capital markets, a number of reinsurers announced. Munich Re acted as joint lead manager in the transaction, …
July 12, 2010
Munich Re has provided the Massachusetts Property Insurance Underwriting Association (MPIUA) with a $ 96 million catastrophe bond issuance that “transfers hurricane risk in Massachusetts to the capital markets,” said the reinsurer’s announcement. “Munich Re acted as joint lead manager …
July 2, 2010
All sixteen members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF – www.ccrif.org) have renewed their policies for hurricane and earthquake coverage for the 2010/11 year beginning on June first, the start of the hurricane season. The National Oceanic and …
June 16, 2010
A.M. Best Co. has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit rating to “a” from “a-” of New Zealand’s Farmers’ Mutual Group (FMG or the group) and its subsidiary, FMG Insurance Limited …
June 10, 2010
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Cayman Islands-based Eastern Re Ltd. S.P.C., both with stable outlooks. The ratings recognize Eastern Re’s “strategic affiliation with the holding company, …
June 1, 2010
Reinsurers transferred $2.35 billion in catastrophe risk to capital markets before the U.S. hurricane season that began Tuesday, higher than the $1.4 billion last year, as the catastrophe bond sector starts to resume normal issuance after the global financial crisis. …
May 27, 2010
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb-” of Ironshore Inc. ,based in the Cayman Islands, and the financial strength rating of ‘A-‘ (Excellent) and ICRs of “a-” of its operating subsidiaries. These include Ironshore Insurance …
May 19, 2010
Standard & Poor’s Ratings Services has affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on AG Insurance and the operating entities of Millenniumbcp-Fortis Grupo Segurador S.G.P.S. S.A.; its ‘BBB-/A-3’ issuer credit rating on holding companies Ageas N.V. …
May 11, 2010
North Carolina’s insurance pool for coastal properties now has an extra financial cushion in case a major hurricane strikes. Risk specialist Guy Carpenter & Co., LLC, and GC Securities, announced the completion of a $305 million, two-class note issuance from …
May 3, 2010
XL Capital Ltd announced from its Bermuda headquarters that ordinary shareholders have approved changing the parent holding company’s place of incorporation from the Cayman Islands to Ireland, following a special shareholders meeting. They also approved renaming the company from its …