The Weather Company and Atmospheric G2 are forecasting that the 2024 Atlantic hurricane season could be among the most active ever, while they also warn of a strong Bermuda High that could set in and steer storms further west towards the United States and Caribbean.
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Early signs suggest that the Florida catastrophe reinsurance renewals at June 1st 2024 will see improved conditions for cedents, as capital has flowed in and reinsurer appetites have recovered, according to Marsh McLennan CEO John Doyle.
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Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has established Lilypad Insurance as a homeowners specialist carrier and the subsidiary has acquired Centauri Insurance from Applied Underwriters.
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Citizens Property Insurance Corporation is seeking what could be its biggest catastrophe bond ever, with an initial target of some $950 million of notes offered via a dual-series Everglades Re II Ltd. (Series 2024-1 & 2024-2) issuance, but with both two and three year note series available it looks like market appetite will decide the […]
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In a further sign that catastrophe bond pricing could be at or approaching the bottom, for now at least, while Aspen has significantly increased the target size for its new Kendall Re Ltd. (Series 2024-1) transaction to as much as $375 million, the pricing for both tranches of notes has risen relatively significantly as well.
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Louisiana Citizens Property Insurance Corporation has now secured the upsized $275 million of collateralized named storm reinsurance from its new Bayou Re Ltd. (Series 2024-1) catastrophe bond as pricing was finalised at the low-end of reduced guidance, with the deal becoming its largest cat bond to-date.
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US primary insurer Allstate added $343 million of catastrophe losses in the month of March, taking its Q1 2024 cat loss total to $731 million, suggesting further erosion of the retention under the firm’s aggregate reinsurance cat bond coverage, although the data suggests that the tranches of notes do appear safe from actual losses.
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The portfolio of insurance-linked securities (ILS) and reinsurance investments managed by PGGM, the Dutch pension investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, has shrunk in size by roughly 6% over the first-quarter of 2024.
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Having recently spent time meeting with the insurance-linked securities (ILS) market at the SIFMA annual conference in March and caught up with other market participants since, we come away with a feeling that the ILS market remains keenly focused on holding onto gains made in recent years, with no ambition to revert back to the […]
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In an outlook on the private markets investment sector for the second-quarter of 2024, Schroders Capital Chief Investment Officer (CIO) Nils Rode explains that insurance-linked securities (ILS) are an area of value in the current environment.
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For private equity investors, the use of alternative capital vehicles and insurance-linked securities (ILS) structures presents a mature way to take advantage of reinsurance market cycles in an efficient manner, analysts at BMO Capital Markets have highlighted.
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The issuance of IBRD CAR Mexico 2024, the Government of Mexico’s $420 million Mexico earthquake and Atlantic coast named storm catastrophe bond, “is a fundamental part of the federal strategy for Financial Management of Disaster Risks”, according to Héctor Santana Suárez, Head of Insurance, Pensions and Social Security in the Ministry of Finance of México.
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Researchers from North Carolina State University have forecast that the 2024 Atlantic hurricane season will be an active one, with the number of named storms predicted to be “significantly higher than the long-term average” and a special mention for the Gulf of Mexico, with up to seven named storms expected there.
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Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, has now secured its targeted $150 million of reinsurance from the new Nakama Re Pte. Ltd. (Series 2024-1) catastrophe bond, with the notes spread now priced within the initial guidance.
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