Ah-rump (kiss kiss) Kamp Re

The Insurance King with the big nose ring snake-king-2
was protected by Kamp Re
And every night by the pale moonlight
It sounded like this to me…

Ah-rump (kiss kiss), Ah-rump (kiss kiss)
Ah-rump, Ditty-aye-dee-a-a-a
Ah-rump (kiss kiss), Ah-rump (kiss kiss)
Ah-rump, Ditty-aye-dee-a-a-a

As the years went by like one, two, three
Kamp Re still held the money.
And every night by the pale moonlight
It sounded like this to me…

Ah-rump ma-ma, Ah-rump, ma-ma
Ah-rump, Ditty-aye-dee-a-a-a
Ah-rump ma-ma, Ah-rump, ma-ma
Ah-rump, Ditty-aye-dee-a-a-a

As the years went by like one, two, three
Kamp Re had 36 monthly options
And every night by the pale moonlight
It sounded like this to me…

Ah-rump gran-ma, Ah-rump gran-ma
Ah-rump, Ditty-aye-dee-a-a-a
Ah-rump gran-ma, Ah-rump gran-ma
Ah-rump, Ditty-aye-dee-a-a-a

As the years went by like one, two, three
And the King was running out of time and money
And every night by the pale moonlight
It sounded like this to me…

Ah-rump (silent pause), Ah-rump (silent pause)
Ah-rump, Ditty-aye-dee-a-a-a
Ah-rump (silent pause), Ah-rump (silent pause)
Ah-rump, Ditty-aye-dee-a-a-a

Reinsurance – or rather lack of same – is significant in the big picture of Katrina claims handling and Katrina was a very short catwith a very long tail.

Nov. 19, 2007–Standard&Poor’s Ratings Services said today that it has received a copy of an extension notice from the administrator for KAMP RE 2005 Ltd. As permitted under the transaction documents, Swiss Reinsurance America Corp. will extend the maturity of KAMP RE 2005 Ltd.’s $190 million floating-rate, principal-at-risk notes to Jan. 14, 2008. Swiss Re may elect to extend the notes for up to 35 additional monthly periods.

Not much reassurance from reinsurance with those terms.

One thought on “Ah-rump (kiss kiss) Kamp Re”

  1. Al Yankovich (sp) ain’t got nothing on you, Mz. Thang!

    Has that snake really only one eye?
    I always wanted a girl in a Freudian Slip.
    bada’bing!

    Once again y’all make it hard to pick a post to hang on da’Ladda, so we’ll just snag this little bitty ditty if you don’mind… heeheehee…
    It’s that snake…makin me feel sneaky!
    Or, lifting ledes off of y’all feels like shoplifting a magic/novelty store as those guys always let you go ’cause they know you’ll be back for the antidote stain remover.

    Really though, that is a cute piece of work.

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