Fitch Solutions to supply CDS pricing and market implied ratings services.
Catlin Group, a Bermuda-based international specialist property and casualty insurer and reinsurer, has chosen Fitch Solutions to provide its CDS pricing and market implied ratings services to help Catlin improve the pricing of its emerging market credit insurance products.
The services combine Fitch Solutions' credit default swap data with its CDS and equity market implied ratings, and Fitch Ratings' credit ratings, as well as benchmarking for highly illiquid entities. This new pricing tool provides indicative spread values for credit default swaps where there is insufficient market information to determine a consensus price.
John Lentaigne, credit and political risk underwriter at Catlin Bermuda, said: "Knowing what other markets price securities at is an increasingly important benchmark for us when pricing our own credit insurance products. Fitch has a strong track record in assessing credit risk and the combination of its CDS benchmarking, CDS pricing and market implied ratings tools will give us unique coverage of emerging market entities and a vital insight into how the market is pricing risk in emerging markets."
Thomas Aubrey, managing director at Fitch Solutions added: "We are delighted to be working with Catlin Group. Assessing credit risk is central to the investment and risk management process and the combination of our CDS pricing, CDS benchmarking and market implied ratings services provide users with a single platform to derive key insights into the direction of credit risk and ultimately make better investment decisions."
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