Posts Tagged ‘CRESTA’



February 28th, 2012

GC Securities* Completes Catastrophe Bond Queen Street V Re Limited on behalf of Munich Re

Posted at 1:30 PM ET

GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/SIPC, today announced the placement of USD75 million Principal At-Risk Variable Rate Notes (”Notes”) through catastrophe bond issuer Queen Street V Re Limited.

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December 2nd, 2010

Solvency II Update: QIS5 Windstorm Scenarios Are Within Range of Industry Models

Posted at 3:00 AM ET

Frank Achtert, Managing Director, Eddy Vanbeneden, Managing Director, and Maximilian Strasser, Senior Vice President
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European insurers and reinsurers will face requirements for full compliance with the new Solvency II capital regime requirements in just over two years. Even if this introduction is phased in — as the European Commission has reportedly indicated it could be — these requirements will have a wide-ranging and profound impact on the insurance industry throughout Europe.

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November 2nd, 2010

GC Securities, a Division of MMC Securities Corp., Announces Completion of 144A Catastrophe Bond – Calypso Capital Limited

Posted at 5:00 AM ET

gc-securities-logoGuy Carpenter & Company, LLC, the leading global risk and reinsurance specialist, and GC Securities, today announced the completion of EUR275 million Class A Principal At-Risk Variable Rate Notes due January 10, 2014 (”Series 2010-1 Notes”) from a newly created 144A catastrophe bond program, Calypso Capital Limited (Calypso). Calypso is an Irish special purpose company created to provide protection to AXA Global P&C (”AXA”). The Series 2010-1 Notes issuance, the largest Euro denominated issuance in the history of the catastrophe bond market, will provide protection against European windstorm events.

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May 24th, 2010

Solvency II – Non-Life Underwriting Risk in Light of QIS 5

Posted at 1:00 AM ET

Frank Achtert, Managing Director, Financial Intelligence Team, and Sebastien Portmann, Vice President, Financial Intelligence Team
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On April 15th, 2010, the European Commission (EC) published its draft technical specifications for the next Quantitative Impact Study (QIS) 5, which will be implemented from August to November of 2010. Based on empirical evidence, the general calibration of the standard formula solvency capital requirement (SCR) may fall between the calibration of QIS 4 and the calibration seen in the rigid proposals of the various consultation papers (CP) submitted during 2009. This article takes a deeper look at the calibration of non-life underwriting risk as part of the overall SCR calculation.

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April 28th, 2009

Chart: Japan at 4/1 Ceded Aggregate by Zone

Posted at 12:28 AM ET

japanat4-1cededbyzone

The largest aggregate exposure in Japan is now found in Zone 6, with the traditional peak (Zone 5) not far behind. Growth continues to be experienced in other zones, particularly Zone 8 and Zone 11.

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March 4th, 2009

CRESTA Zone Updates

Posted at 12:30 AM ET

Instrat® Asia-Pacific
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Swiss Re and Munich Re, which are responsible for Catastrophe Risk Evaluating and Standardising Target Accumulations (CRESTA1) boundaries, have recently made some major updates to the zones in a number of countries. In the Asia-Pacific region, the CRESTA boundaries for Australia, China, Japan, and New Zealand have undergone significant changes.

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February 19th, 2009

PERILS AG to Aggregate and Distribute European Nat Cat Data

Posted at 4:00 PM ET

PERILS AG, an independent Zurich-based company, has been established to aggregate and provide industry-wide European catastrophe insurance data as a subscription service. The aggregated data sets will be derived from data voluntarily provided by European-based insurers.

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