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Allstate's Willow Re to default
Allstate has notified investors that its $250mn Willow Re cat bond will default on its scheduled interest payment today (2 February), as it falls victim to the credit risk that seeped into the sector
02 February 2009
Atlas V set to close on 5 February
Standard & Poor’s (S&P) has issued preliminary ratings on the three tranches of SCOR’s Atlas V cat bond, the first cat bond in six months, which is expected to close on 5 February. S
29 January 2009
Windstorm Klaus may trigger cat bonds
The devastating Windstorm Klaus – which swept across southern France and northern Spain on 23-24 January leaving a trail of destruction – could trigger cat bonds if the losses are as high
29 January 2009
CHI storms into 2009 with $30mn cat futures trades; Carvill withdraws
The Chicago Mercantile Exchange (CME) has traded $30mn notional limit of its CHI hurricane cat futures in the first weeks of 2009, as reinsurance broker Carvill withdraws from the initiative which it
22 January 2009
SCOR opens cat bond market
BNP Paribas and Deutsche Bank are marketing a $200mn US wind and quake cat bond for French reinsurer SCOR, Trading Risk can reveal. If successful, Atlas V – the first cat bond to be marketed
15 January 2009
Hannover Re shelves Kepler renewal; K6 struggling
Hannover Re has postponed the renewal of its $200mn Kepler Re sidecar-style vehicle and is only “about 50 percent” placed on its slimmed-down Kaith Re K6 sidecar, as the credit crunch con
15 January 2009
Ballantyne Re downgraded
Ratings agency Standard & Poor’s (S&P) further downgraded tranches of Scottish Re’s life securitisation Ballantyne Re as the vehicle failed to make its January interest payment to notehol
15 January 2009
Cyrus Re sidecar closes
Ratings agency Standard & Poor’s withdrew its ratings on $105mn of loans to XL Capital’s sidecar vehicle Cyrus Reinsurance II Ltd. The three loans were repaid in full, signalling the di
15 January 2009
Fremantle may be exposed to Ike losses
Brit Insurance Holdings has decided to continue to sponsor Fremantle, its $200mn multi-peril cat bond, until maturity as the transaction faces potential exposure to losses from Hurricane Ike. Brit
15 January 2009
Libero in MBO from Lehman Brothers
Libero Ventures, the capital markets convergence firm formed in late 2007, has acquired the shareholding previously owned by Lehman Brothers from PricewaterhouseCoopers, the administrators of the fai
15 January 2009
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