Daphne Posted September 22, 2011 Share Posted September 22, 2011 Will this market in Europe prove Brian Bradstreet wrong in his assertion that the CDS windfall won't be repeated??.? Link to comment Share on other sites More sharing options...
Uccmal Posted September 22, 2011 Share Posted September 22, 2011 I scanned the Annual and most recent Q and cant find details on the CDS and what they are holding except that they were in deficity at both periods, and the notional is 3.5 B. Add to this the S&P hedge, the deflation bet, the long bond holdings. I am totally guessing at least 1 B in gains in the past few days - offset somewhat by some less than stellar equity holdings. The interesting thing is what the equity meltdown, disasters, and bond behaviour will do to other insurers who are not so well protected. A goodly portion of the huge P&C surplus must be getting wiped out right now. FFH is still my largest holding by far and for that I am grateful. For this climate they are much better investors than I am proving to be, so far. Link to comment Share on other sites More sharing options...
biaggio Posted September 22, 2011 Share Posted September 22, 2011 "FFH is still my largest holding by far and for that I am grateful. For this climate they are much better investors than I am proving to be, so far." Don t be too hard on yourself. You re probably going to do better than you think. At least you have a lot of FFH. I wish FFH was my largest holding. Link to comment Share on other sites More sharing options...
Daphne Posted September 22, 2011 Author Share Posted September 22, 2011 Looks like mr market agrees with you Ucamal. Up $18.90 with $400 on offer. It too is my largest holding and I sleep very well when the market goes nuts. D Link to comment Share on other sites More sharing options...
username Posted September 27, 2011 Share Posted September 27, 2011 I scanned the Annual and most recent Q and cant find details on the CDS and what they are holding except that they were in deficity at both periods, and the notional is 3.5 B.You might find your answer in the annual statutory report. Here's the relevant page from ORH annual statutory statement (which is publicly available, and I've got with the kind help of Odyssey's team). Unfortunately I don't have the same data for FFH. ORH CDS Link to comment Share on other sites More sharing options...
Uccmal Posted September 28, 2011 Share Posted September 28, 2011 Thanks username, Interesting that they have Society Generale CDS with Deutche Bank and DB CDS with someone else. I would expect the configuration to be the same for Northbridge, and the other subs. Link to comment Share on other sites More sharing options...
Grenville Posted September 28, 2011 Share Posted September 28, 2011 I scanned the Annual and most recent Q and cant find details on the CDS and what they are holding except that they were in deficity at both periods, and the notional is 3.5 B.You might find your answer in the annual statutory report. Here's the relevant page from ORH annual statutory statement (which is publicly available, and I've got with the kind help of Odyssey's team). Unfortunately I don't have the same data for FFH. ORH CDS Thanks Username for attaching the CDS page. Do you happen to know who the counter party is on their CPI Bets? Link to comment Share on other sites More sharing options...
Grenville Posted September 28, 2011 Share Posted September 28, 2011 I found the answer in ORH's Q3 2010 NAIC report. The CPI bets then were mainly with two counterparties: Citibank Canada and Deutche Bank. There is one contract with JP Morgan. Link to comment Share on other sites More sharing options...
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