INTELLIGENCE ILS


36 CREDIT RATINGS FOR CAT BONDS: ARE THEY WORTH THE COST


AND EFFORT? The recent downgrades of numerous cat bonds triggered by changes to the risk models underpinning them may be a contributory factor in a sharp reduction in the number of non-specialised investors contributing to this sector. Pete Vloedman, chief executive of Anchor Risk Advisors, who has over 20 years’ experience in the sector, analyses this dynamic.


40 THE IMPACT OF RMS V11 ON ILS Risk modelling agency RMS’s new US wind model


triggered downgrades to many catastrophe bonds. Peter Nakada, managing director of RMS Risk Markets, examines the logic behind this and how investors have reacted to the situation.


43 ILS NEWS Coverage of the latest insurance linked securities stories.


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November 2011 | INTELLIGENT INSURER | 35


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