U.S. Structured Credit Roundtable: What Does The Future Hold For The Catastrophe Bond Market In 2012? Jan 12

Standard & Poors, January 2012

Abstract
Many insurance companies are looking to the capital markets to transfer risk through the issuance of catastrophe (CAT) bonds. CAT bond issuance has become a common alternative to traditional reinsurance. An estimated $4 billion of CAT bonds were issued in 2011, and several of the participants on Standard & Poor's Ratings Services' roundtable expect issuance to surpass that figure in 2012. Despite the economic uncertainty surrounding the European Economic and Monetary Union (Eurozone), unsettled U.S. fiscal policy, and volatile stock and bond markets, these roundtable participants believe there will be a robust pipeline of new issuance in 2012. Deborah Newman, associate director in Standard & Poor's Structured Credit Group, moderated the roundtable. The panelists were: Brian Tobben, senior vice president,...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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