Monthly Archives: May 2016

News review | May 31 2016

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Munich Re's $190m Queen Street XII Re dac cat bond is the largest of the eleven issuances in Munich Re’s Queen Street series of catastrophe bonds since 2011. The notes provide four seasons of per occurrence protection from hurricanes...

News review | May 23 2016

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United P&C has launched its first cat bond offering through the $100m Laetere Re issuance. The deal has a zero coupon bond structure and covers only one year - something more usually seen on the private bond market. Laetere Re...

News review | May 17 2016

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Credit Suisse Group's hotly awaited operational risk cat bond is expected to launch in the coming days as a CHF200m ($205m) issuance. This is a significant reduction from the CHF630m the bank had originally targeted as part of the...

Rogue trader insurance

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In November 2012, Kweku Adoboli was imprisoned for seven years for a fraud that cost UBS over $2 billion. Rival Swiss bank Credit Suisse is now in the process of placing a bond that will protect it from operational risks like this for...

Quantifying the unquantifiable

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Reinsurers and ILS funds are frequently in the business of risking large amounts of investors' capital based on very little relevant data. Some contracts cover very remote risks such as meteor strikes, others cover risks,...

News review | May 10 2016

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Munich Re is returning to the capital markets with a new issuance, as it seeks to expand its capital markets sources of retrocession through a (currently) $100m catastrophe bond transaction. It is understood the reinsurer will use...

News review | May 03 2016

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USAA’s latest catastrophe bond, Residential Reinsurance 2016 Limited (Series 2016-1), is set to achieve the upsized target of $250m of collateralised reinsurance cover, with all three tranches expected to price at the lowest end...