RenaissanceRe Holdings Ltd. · NYSE:RNR
RenaissanceRe — Metropolitan Transportation Authority (MTA) / FMTAC — Climate Change: Response and Resilience Leadership Forum (November 2019)
5 slides from RenaissanceRe's conference presentation, November 2019
Slide 1: MTA Capital Markets-Based Reinsurance Overview
MTA Capital Markets-Based Reinsurance Overview Climate Change: Response and Resilience Leadership Forum – November 2019 1
Slide 2: Two Markets for Property Reinsurance
Two Markets for Property Reinsurance Traditional Reinsurance All-Risk Coverage Backed By Balance Capital Markets Catastrophic Coverage Backed by Markets Insurance Linked Securities (ILS) / Catastrophe Bonds (Cat Bonds) Investors Collateral FMTAC’s Property Stand-Alone Investors Asia Program Zurich L
Slide 3: ILS Transactions
ILS Transactions In 2013, FMTAC and the MTA issued a $200 million catastrophe bond in the MetroCat Series 2013 transaction The MetroCat Series 2013 note locked in three years of collateralized storm surge reinsurance protection At 4.5%, the pricing spread of the note maximized favorable pricin
Slide 4: Measuring Storm Surge
Measuring Storm Surge MetroCat uses tidal gauges run by USGS and NOAA to measure storm surge Creates transparency for investors as data is automatically transmitted via satellite network and is publicly available USGS and NOAA are independent organizations not controlled by New York State or M
Slide 5: Storm Surge Trigger
Storm Surge Trigger Area A tidal gauges measure surge closely correlated with surge at MTA assets located near the Battery Area B tidal gauges measure surge closely correlated with surge at MTA assets located near Long Island Sound Because of bathymetry and other factors observed sea level in