Cat Bond Default After SIV Fails To Pay

10 Feb 2009

The failure of special purpose vehicle Willow Re to make an interest payment in time has caused a catastrophe bond sold by Allstate Corp. to default.

The failure of special purpose vehicle Willow Re to make an interest payment in time has caused a catastrophe bond sold by Allstate Corp. to default. Willow Re is one of four deals that used a unit of Lehman Brothers as a total return swap counterparty and that ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial