Insurance News

Posts Tagged ‘bond

(Reuters)—New issues of insurance catastrophe bonds should rapidly rebound to pre-financial-crisis highs as securities markets stabilize, insurance broker Aon Benfield said Monday.

Investors are showing sustained interest in so-called cat bonds, which enable insurance companies to transfer big risks, such as for hurricane or earthquake damage, to financial market investors, while their prices have also remained attractive for sponsors of Read the rest of this entry »

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Louisiana?s top insurance regulator said Citizen?s Property Insurance Corp. will be able to post a $95 million bond so the state-backed carrier can appeal a crushing $92.8 million judgment.

Insurance Commissioner Jim Donelon said he was ?certain? it would not be necessary to assess Citizens? policyholders for the cash to appeal to the Louisiana State Supreme Court in a case involving Hurricane Katrina claims.

Mr. Donelon Read the rest of this entry »

Catastrophe bond issuance activity is not expected to re-visit the record-breaking levels of 2007, but estimates currently put 2009 on track to supplant 2008 as the third-busiest year for cat bonds, according to a brokerage forecast.

The briefing, published by Guy Carpenter & Company, LLC, said three bonds were closed in the first quarter of 2009, equaling 2008’s first-quarter activity. The three bonds followed five months of silence Read the rest of this entry »