$100mn tornado cat bond wiped outThe remaining $100mn tranche of American Family Mutual tornado cat bond Mariah Re 2010-1 is set to be a total loss, in what will be the third wipe-out of a cat bond this year. This comes after the lower-lying $100mn Mariah 2 issuance was written off by cat bond investors. But investors in the Mariah 1 notes were previously only expected to lose $11.6mn of their capital, according to loss reports from the end o
28 November 2011