December 3, 2014
The convergence market has provided an opportunity for entities that act as insurers of last resort to transfer some of their peak exposures to the capital markets, according to a Best’s Special Report titled, “Last Resort Insurers Welcome Relief From …
August 1, 2013
The Metropolitan Transportation Authority, which suffered $4.8 billion in damage from Superstorm Sandy last year, obtained $200 million of protection with bonds designed to guard against wreckage linked to storm surges.New York City’s subway operator is paying less than the …
July 25, 2013
Towers Watson Capital Markets Inc., a subsidiary of global professional services company Towers Watson, announced it recently arranged a private placement catastrophe bond, Sullivan Re 2013-1, which closed at $60 million. Sullivan Re represents the first foray into the insurance-linked …
July 16, 2013
The Metropolitan Transportation Authority plans to use bonds designed to help New York City’s subway operator guard against storm surge damage after suffering $4.8 billion in wreckage from Hurricane Sandy.The largest U.S. transit agency will buy protection from MetroCat Re …