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Recorded June 2, 2011
90 minutes
Free webinar!
Agenda
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Who should attend |
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Overview
Estimates place insurance industry losses from recent global catastrophes at $70
billion or more, depleting the insurance and reinsurance industries of much of
its stockpiled capital. As a result, cat bond issuance has soared to a record
high in the first quarter of 2011, as insurers look to Wall Street to cover
their future cat risk.
Investors, for the most part, view cat bonds as an excellent way to diversify
their portfolios – an asset class not tied to equity markets and presenting
attractive returns if bought intelligently.
Our panel of highly regarded industry experts takes a
360-degree look at both the issuance and purchase cat bonds today.
Agenda
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Catastrophe Overview:
- A look at recent catastrophe activity and the impact on capital levels at
insurers and reinsurers
- How exposure modeling can reduce risk to issuers and investors
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Catastrophe Bonds:
- What they are and why they are used
- Who can become a sponsor/how do they set up a SPV
- How and why bonds are rated
- Historical Issuance Activity (New/Renewals)
- How have the catastrophes of 2011 impacted the cat bond market
- How are a bond's potential losses modeled
- How does the market for traditional reinsurance impact the catastrophe
bond market |
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The benefits and impacts of issuing cat bonds for insurance companies:
- Impact on insured's balance sheet and capital requirements
- Why do insurance companies issue/renew catastrophe bond(s)?
- Does Solvency 2 have an impact on the market
- Capital structure
- Issuance volume
- Risk profile and transaction structure
- How issuing cat bonds compares to traditional reinsurance |
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Investing in Cat bonds:
- Why are cat bonds attractive investments?
- How have the catastrophes of 2011 impacted returns/valuations?
Investor base?
- What's the outlook for investment in cat bonds? |
Learning Objectives
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Understand how and why cat bonds are used as securitization options |
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Evaluate the risk and return profile of cat bonds for issuers and investors |
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Analyze transaction structure |
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Identify issuance trends and market forces |
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Understand modeling techniques used to identify exposure risk |
Panelists
Cory Anger – Managing Director, Global Head of ILS Structuring, Guy Carpenter & Company, LLC
Chi H. Hum – Managing Director, Global Head of Distribution for Insurance-Linked Securities, Guy Carpenter & Company, LLC
Pascal Karsenti, CCM –
Manager, Insurance-Linked Securities, AIR Worldwide
Barney Schauble – Managing Principal, Nephila
Capital
David Dankwa (moderator)
Senior Reporter, SNL Financial
Who will benefit
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CEOs, CFOs and Chief Risk Officers at insurance companies
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Risk managers and reinsurance professionals
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Fixed-income investors
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Sell-side research analysts
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Reinsurance professionals
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