Copying and distributing are prohibited without permission of the publisher
Liberty Mutual's $200m cat bond gets S&P rating
26 February 2009
US insurer Liberty Mutual's forthcoming cat bond, Mystic Re II, has been assigned a BB rating by Standard & Poor's.
Read more:
liberty mutual
S&P
mystic Re II
hurricane
earthquake
insurer
cat bond
US insurer Liberty Mutual's forthcoming cat bond, Mystic Re II, has been assigned a BB rating by Standard & Poor's.
The $200m of Series 2009-1 notes will cover US hurricane and earthquake losses above a weighted insured industry loss trigger level of $50bn, with an exhaustion point of $55bn. The term of the cover is three years.
The risk modelling for the deal is based on AIR's 2008 US hurricane and earthquake models.
Mystic Re II is the successor to Mystic Re, a $200m cat bond issued in 2006.