Archive for April, 2013

Florida Senate bill SB 1770, which contains a measure to create a facility allowing smaller Florida insurers access to capital market sources of reinsurance through instruments such as catastrophe bonds and securitization, has been approved today by the Florida House of Representatives, shortly after its approval by the Florida Senate last week. The bill now […]

Global insurance and reinsurance intermediary Aon held its first-quarter 2013 earnings conference call last Friday and one of the topics discussed was the brokers recent agreement with Warren Buffett’s reinsurance firm Berkshire Hathaway bringing sidecar reinsurance type capacity to Aon’s customers at Lloyd’s of London. The agreement has come up against some criticism but Aon […]

Bermuda-based insurance-linked securities (ILS) and reinsurance-linked investment manager Pillar Capital Holdings Limited, formerly known as Juniperus Capital, has announced a new senior hire to its catastrophe ILS and collateralized reinsurance portfolio management team. Bermudian Jeff Franklin will be joining Pillar Capital with immediate effect as Senior Vice President and Portfolio Manager from his most recent role […]

The catastrophe bond issuance market continues to heat up as yet another transaction launched yesterday bringing a first-time sponsor to the market. The cat bond is being issued by Bermuda incorporated Armor Re Ltd. which is seeking to issue a Series 2013-1 tranche of cat bond notes to secure Florida wind protection for Florida focused insurer […]

The DCG Iris insurance-linked securities fund, a London Stock Exchange listed closed end ILS investment fund operated by investment manager Dexion Capital, is actively raising more capital and aiming to close another placement of new shares in the fund by late May. DCG Iris has been raising new capital as part of a share placement […]

The Bermuda Stock Exchange (BSX) is now powered by a new technology platform which it hopes will supercharge its ability to facilitate and act as an exchange for trading in securities including catastrophe bonds and insurance-linked securities. The BSX has chosen the NASDAQ OMX Group, Inc.’s X-stream trading platform to power the exchange bringing significant […]

We understand from sources in the insurance-linked securities market that U.S. insurer Allstate’s latest catastrophe bond deal, Sanders Re Ltd. (Series 2013-1), has upsized during the marketing of the deal. At the same time the price guidance on both tranches of notes being issued has dropped. Sanders Re is Allstate’s third trip to the cat […]

North Carolina is seeking to enact legislation which would make it a home to captive insurance and reinsurance companies and special purpose vehicles such as catastrophe bond issuers. In an effort to grow its share of the re/insurance market bill SB 476, sponsored by two Republican Senators, has moved through the North Carolina Senate Insurance […]

Reinsurance brokerage Guy Carpenter & Company has announced the addition of a new hire to its capital markets focused GC Securities division this morning. Stephen C. Mathews has been appointed Managing Director of GC Securities. Matthews will be based in the GC Securities New York office and will report to Chris Ezbiansky, Head of M&A […]

The Turkish Catastrophe Insurance Pool (TCIP) now benefits from a $400m layer of fully-collateralized, parametric earthquake reinsurance protection thanks to the completion of its Bosphorus 1 Re Ltd. catastrophe bond on Friday. The deal, which increased in size by 300% from $100m to the $400m it settled at is the second time that the TCIP […]