segregated account

A new Bermuda based Class 3 re/insurer and segregated accounts company has been set up by reinsurance broker Inver Re, a unit of the Ardonagh Group, with Inver Re (Bermuda) SAC Ltd. set to be used both as a captive vehicle and for collateralized reinsurance arrangements.

New Incorporated Segregated Accounts Companies (ISAC) available under Bermuda law and regulation, will enable insurance-linked securities (ILS) managers, or investors, to operate both underwriting and investment fund activities within a single company structure.

A new $17.6m private catastrophe bond or ILS transaction from a segregated account named ‘Tralee‘  has been issued through global independent insurance manager Kane’s private ILS platform, the Kane SAC Limited Note Program.

Global independent insurance and reinsurance manager Kane has announced the launch of a new ILS note program today, with an added feature, the addition of the EuroClear Settlement System which Kane says will facilitate secondary trading for cat bonds.

The four new private deals from the Kane SAC Limited Note Program private ILS issuance platform, which Artemis covered early today here, all provide cover for unnamed U.S. property catastrophe risks and feature industry loss index triggers.

Four new private insurance-linked security (ILS) or catastrophe bond deals, totaling $125.84m, issued through global independent insurance manager Kane’s private ILS platform, the Kane SAC Limited Note Program, have listed in Bermuda.