Posts Tagged ‘Earthquake’



January 26th, 2016

GC Securities* Report Shows Moderated Catastrophe Bond Activity, Mixed Pricing Levels at Year-End 2015

Posted at 11:30 PM ET

GC Securities*, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today released a briefing of catastrophe bond activity for the fourth quarter and full year analysis of 2015. According to GC Securities, although 144A property and casualty (P&C) catastrophe bond primary issuance levels were charted as uncharacteristically low in the fourth quarter, totals at year-end were only slightly lower than the all-time high levels seen in 2014, with 2015 issuance totaling USD 5.917 billion, and outstanding risk capital totaling USD 22.640 billion, as of December 31, 2015.

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December 13th, 2015

GC Securities* Report Shows Catastrophe Bond Market Continues to Hold Steady

Posted at 10:30 PM ET

cat-bond-3q-2015-city-photo-smGC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today released a briefing and analysis of catastrophe bond activity for the third quarter of 2015, which shows healthy activity across the market and marks the fourth highest third quarter catastrophe bond issuance on record. 

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September 22nd, 2015

GC Capital Ideas Recent CAT-i Stories

Posted at 1:00 AM ET

Here are recent CAT-i stories from the period July to mid-September of 2015.

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September 17th, 2015

8.3 Mw Earthquake near Illapel, Chile

Posted at 2:40 PM ET

83eq-illapel-chile-smChile experienced an 8.3-magnitude earthquake on September 16, followed by dozens of aftershocks, including one at magnitude 7.0 and seven at magnitude 6.0 or above. According to the U.S. Geological Survey (USGS), the earthquake occurred near the coast of Coquimbo, about 46 kilometers (29 miles) west of Illapel at 19:54 local time. A tsunami warning was issued for the entire coast of Chile but has since been lifted. Initial media reports indicate at least 11 fatalities, although emergency crews are still accessing affected areas. The earthquake has forced more than one million people to evacuate from their homes and electrical power was cut off to 240,000 households. Heavy waves following the earthquake caused flooding in coastal towns although most buildings were reported to hold up well. The USGS pager service estimates most probable economic losses between USD 100 million and USD 1 billion. Our first thoughts and concerns are with those directly affected by this event.

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September 2nd, 2015

GC Securities* Report Shows Healthy Catastrophe Bond Activity Supported by Record Issuance of Private Bonds

Posted at 10:30 PM ET

GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today released a briefing and analysis of catastrophe bond activity for the second quarter of 2015, which shows healthy activity across the market and primary issuance levels recorded as the fourth highest second quarter on record.

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August 26th, 2015

GC Securities* Completes Catastrophe Bond Bosphorus Ltd. Series 2015-1 Notes Benefiting the Turkish Catastrophe Insurance Pool

Posted at 6:45 AM ET

GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of the Series 2015-1 Notes, with notional principal of USD 100,000,000, through the newly formed catastrophe bond shelf program, Bosphorus Ltd., to benefit the Turkish Catastrophe Insurance Pool (TCIP). The 2015-1 Notes represent the second time that TCIP has utilized the capital markets to obtain earthquake protection on a parametric basis. TCIP, managed by Eureko Sigorta A.Ş., first accessed the cat bond market in 2013 via the issuance of Bosphorus 1 Re Ltd. and has now sourced USD 500 million in total of catastrophe bond capacity from capital market investors.

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July 12th, 2015

GC Securities* Completes Catastrophe Bond Panda Re Ltd. Series 2015-1 Notes Benefiting China Property & Casualty Reinsurance Company Ltd. and China Reinsurance (Group) Corporation

Posted at 11:00 PM ET

GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Series 2015-1 Class A Principal At-Risk Variable Rate Notes due July 9, 2018, with notional principal of USD 50,000,000, through a newly formed catastrophe bond shelf program, Panda Re Ltd., to benefit the China Property & Casualty Reinsurance Company Ltd. and China Reinsurance (Group) Corporation (collectively “China Re”).

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July 6th, 2015

GC Capital Ideas Most Recent CAT-I Stories For 2015

Posted at 1:00 AM ET

Here are the most recent CAT-i stories covering January through June of 2015.

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June 11th, 2015

Review – Americas Cat Losses - 2014

Posted at 1:00 AM ET

Here we review the Americas catastrophe losses for 2014.

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April 30th, 2015

7.8Mw Earthquake – Lamjung, Nepal

Posted at 11:18 AM ET

4-25-15-eq-nepal1-smallNepal experienced a magnitude 7.8 earthquake on April 25, followed by two major aftershocks on April 25 and 26 of magnitude 6.6 and 6.7, respectively, according to the U.S. Geological Survey (USGS). Media reports indicate at least 5,582 fatalities, 11,200 injuries, and at least eight million people affected. Infrastructure and transportation routes have been severely disrupted and food and water shortages are of great concern. The USGS PAGER service estimates most probable economic losses between USD1 and USD10 billion. It is clear from media reports that impacts have been widespread and of excessive severity and our first thoughts and concerns are with the millions affected by this tragic event. 

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