Posts Tagged ‘hurricane’



May 24th, 2016

GC Securities* Completes Catastrophe Bond Queen Street XII Re dac on behalf of Munich Re

Posted at 5:28 AM ET

GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of a single class of Principal At-Risk Variable Rate Notes (”Notes”) with a principal amount of USD 190,000,000 through the newly formed designated activity company (”dac”) domiciled in Ireland, Queen Street XII Re dac, to benefit Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (”Munich Re”).  This is the largest issuance of the eleven issuances in Munich Re’s Queen Street series since 2011 and the second largest issuance of all Munich Re’s Queen Street series. Additionally, Queen Street XII Re dac is the first special purpose vehicle authorized for the purposes of Directive 2009/138/EC (as amended) (”Solvency II Directive”) in the 144A catastrophe bond market.

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May 18th, 2016

Risk Analytic Tools, Part I

Posted at 1:00 AM ET

Public sector-related data can be expansive, containing census data, property risk characteristics, historical loss information, risk rating matrices and natural hazard event scientific tracking. In order to facilitate packaging the sometimes unwieldy data in a way that is useful for risk decision making, utilizing outside resources to improve data transparency can be valuable. Public sector resources devoted to building tools that measure risks that are perceived as “uninsurable” can unlock private sector funding.

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March 29th, 2016

Risk Analytic Tools, Part I

Posted at 1:00 AM ET

Public sector-related data can be expansive, containing census data, property risk characteristics, historical loss information, risk rating matrices and natural hazard event scientific tracking. In order to facilitate packaging the sometimes unwieldy data in a way that is useful for risk decision making, utilizing outside resources to improve data transparency can be valuable. Public sector resources devoted to building tools that measure risks that are perceived as “uninsurable” can unlock private sector funding.

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March 21st, 2016

Guy Carpenter Cites El Niño and North Atlantic Oscillation as Key Climate Drivers in 2015

Posted at 11:30 PM ET

Guy Carpenter today reported that 2015 marked one of the strongest El Niño periods on record, while a positive phase of the North Atlantic Oscillation (NAO) was evident both at the beginning and close of the year.

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March 2nd, 2016

GC Securities* Completes Catastrophe Bond Galileo Re Ltd. Series 2016-1 Notes on Behalf of XL Insurance (Bermuda) Ltd.

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 announced the placement of three classes of Series 2016-1 Notes, with an aggregate principal amount of USD 300,000,000 through the existing catastrophe bond shelf program, Galileo Re Ltd., to benefit XL Insurance (Bermuda) Ltd. and certain of its insurance and reinsurance affiliates and related entities (XL Catlin). This is the first time that XL Catlin has utilized the 144A cat bond market since XL Group plc’s (XL) acquisition of Catlin Group Limited (Catlin).

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February 22nd, 2016

Catastrophe Bond: Fourth Quarter Maturities, 2015

Posted at 1:00 AM ET

Three 144A property and casualty (P&C) catastrophe bonds were scheduled to mature in the fourth quarter, representing USD 595 million of risk capital being returned to investors. Of the USD 595 million, USD 100 million of MultiCat Mexico Limited Class C Notes have been extended past the scheduled redemption date of December 4, 2015 as a result of Hurricane Patricia’s impact on the Pacific coast of Mexico in late October 2015. The Class C Notes, which are parametrically triggered based on central pressure observed or interpolated on or within a defined area, are currently awaiting the release of the National Hurricane Center’s Tropical Cyclone Report in order to determine the principal reduction for the Class C Notes. However, the Class A and Class B Notes from MultiCat Mexico Limited did mature at their scheduled redemption date of December 4, 2015.

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October 26th, 2015

Hurricane Patricia

Posted at 2:28 PM ET

hurricane-patricia-smHurricane Patricia made landfall on the Pacific Coast of Mexico as a Category 5 hurricane on the Saffir-Simpson Scale. Patricia was a compact storm, and made landfall in an area of relatively low population density. Reported impacts in the immediate landfall area are severe. However, the track and compact nature of Patricia appears to have spared Puerto Vallarta, Manzanillo and Guadalajara from the most severe impacts, according to media reports.

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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 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 27th, 2015

Property Price Declines Moderate

Posted at 1:00 AM ET

As Guy Carpenter predicted at the beginning of 2015, buyers continued to purchase more catastrophe limit to take advantage of the lower prices that have already occurred in most business segments and geographies.

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