Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 21st of November 2017
July 7, 2009

Guy Carpenter secures Non-Life Transaction of the Year award

by Gill Montia

Story link: Guy Carpenter secures Non-Life Transaction of the Year award

Guy Carpenter & Company has received the “Non-Life Transaction of the Year” award at Trading Risk magazine’s annual awards, held in London.

The accolade recognised the reinsurance intermediary’s work on Blue Coast, a new 144A catastrophe bond programme developed for Allianz Risk Transfer (Bermuda) Limited in partnership with Deutsche Bank.

The three-tranche note issuance provides Allianz with $120 million of fully collateralized, multi-year aggregate protection against the cumulative effect of US hurricane risks in the coastal states from North Carolina to Texas, until the beginning of December 2010.

The firm’s chairman of global client development, David Priebe, described the award as “a gratifying validation of our efforts to facilitate efficient delivery of capital markets capacity to insurance risk managers”.

In related news, Guy Carpenter recently reported that upward pressure on property-catastrophe reinsurance rates in the US has eased, as capacity in the market remains “sufficient” but not “abundant”.

 

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