GC Securities today announced the placement of the Series 2014-1 Notes, with notional principal at USD400,000,000, through a newly formed catastrophe bond shelf program, Alamo Re Ltd., to benefit the Texas Windstorm Insurance Association (TWIA). This is the first time that the TWIA has utilized the cat bond market to manage its tropical cyclone risks. ... Continue Reading »
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GC Securities* Completes First Catastrophe Bond Issued By The World Bank On Behalf Of The Caribbean Catastrophe Risk Insurance Facility
GC Securities today announced the placement of Floating Rate CCRIF Catastrophe-Linked Capital at Risk Notes, with notional principal of USD30,000,000, issued by the International Bank for Reconstruction and Development, a member institution of the World Bank Group, to facilitate risk transfer on behalf of the Caribbean Catastrophe Risk Insurance Facility (the CCRIF). CCRIF is ... Continue Reading »
GC Securities* Completes 144A Indemnity Triggered Europe Windstorm Catastrophe Bond for Assicurazioni Generali S.p.A.
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Principal At-Risk Variable Rate Notes, with notional principal at €190,000,000, through a newly formed special purpose reinsurance vehicle domiciled in Ireland, Lion I Re Limited, to benefit Assicurazioni Generali S.p.A., an Italian ... Continue Reading »
GC Securities* Completes Catastrophe Bond Queen Street IX Re Limited for Munich Re
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 Principal At-Risk Notes, with notional principal of $100,000,000, through a newly formed catastrophe bond, Queen Street IX Re Limited, to benefit Munich Re. This is the ninth Queen Street cat bond to benefit Munich Re, the eighth ... Continue Reading »
2013 Closes with Near Record Catastrophe Bond Issuance According to GC Securities*
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member of FINRA/SIPC, today released an analysis of activity and trends within the catastrophe risk market from the fourth quarter of 2013, also including the outlook for 2014. According to the report, influence from direct capital markets' participation in reinsurance programs, coupled with ... Continue Reading »
GC Securities* Completes Catastrophe Bond Queen Street Re VIII Limited for Munich Re
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/SIPC, today announced the placement of the Principal At-Risk Notes, with notional principal of $75,000,000, through a newly formed catastrophe bond, Queen Street Re VIII Limited, to benefit Munich Re. This is the eighth Queen Street cat bond to benefit Munich Re and the seventh ... Continue Reading »
Tokio Solution Management and GC Securities Create Private Catastrophe Bond Platform
Tokio Solution Management Ltd. ("Tokio Solution") and GC Securities*, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/SIPC, are pleased to announce the creation and launch of a private catastrophe bond platform called the Tokio TensaiTM Platform. ... Continue Reading »
GC Securities* Completes Catastrophe Bond Blue Danube II Ltd. Series 2013-1 Notes for Allianz
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/SIPC, today announced the placement of the Series 2013-1 Notes, with notional principal of $175,000,000, through a newly formed catastrophe bond shelf program, Blue Danube II Ltd., to benefit Allianz. This is the second time that Allianz has accessed PCS-MITT triggered cat bond ... Continue Reading »
GC Securities* Completes Catastrophe Bond Long Point Re III Ltd. Series 2013-1 Notes for Travelers
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/SIPC, today announced the placement of the Series 2013-1 Notes, with notional principal of $300,000,000, through an existing catastrophe bond shelf program, Long Point Re III Ltd., to benefit Travelers. This is the second time that Travelers has accessed indemnity-triggered, ... Continue Reading »
GC Securities*: First Quarter Cat Bond Activity Signals Robust Issuance Ahead
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/SIPC, today released an analysis of first quarter activity and trends within the catastrophe risk market for 2013. Two natural peril-exposed catastrophe bond transactions closed during the first quarter of 2013, for a total of USD520 million of issuance. This seemingly low level ... Continue Reading »
