Archive for April, 2013

Ratings agency A.M. Best raises questions regarding the stickiness of some third-party reinsurance capacity in its latest special report on the global reinsurance industry. The report looks at how despite increasing competition in the reinsurance sector and an economic environment making obtaining investment yield extremely difficult, reinsurance capacity keeps on growing with inflows of third-party […]

According to sources in the catastrophe bond community, investors have demonstrated their appetite for a true diversifying cat bond deal and have helped the Bosphorus 1 Re Ltd. parametric Turkish earthquake cat bond jump in size again to hit $400m. The Bosphorus 1 Re cat bond began as a $100m transaction, then jumped during marketing […]

As we move towards the important mid-year reinsurance renewals, which see a large programs renewed and a focus on Florida hurricane coverage, analysts at Macquarie have warned that they see the influx of third-party capital driven reinsurance capacity as a ‘bear case’ for the reinsurance sector. The increasing supply of reinsurance capital is likely to […]

There are some telling numbers in the latest quarterly insurance-linked securities and catastrophe bond market report from reinsurance broker Aon Benfield. Showing just how different secondary cat bond market prices have been this year, Aon Benfield provide return figures for 2013 versus 2012 and it’s clear that cat bond investors have enjoyed a much better […]

GC Securities, the capital markets arm of reinsurance broker Guy Carpenter has published a press release on its involvement in the Tar Heel Re Ltd. (Series 2013-1) catastrophe bond. GC Securities press release, which you can read in full below, contains some interesting quotes from its clients on the transaction, the two North Carolina wind pool […]

The worlds largest reinsurance firm Munich Re played a number of key roles in the issuance of the recently completed $500m Tar Heel Re Ltd. (Series 2013-1) catastrophe bond. Munich Re acted as co-structuring agent and co-lead manager on the transaction which effectively secured a $500m source of fully-collateralized North Carolina hurricane protection for the North […]

The catastrophe bond indices which we track every fortnight here on Artemis have both continued to rise over the last two weeks. The total return index tells a story that will please insurance-linked securities and cat bond fund managers as it shows that attractive cat bond market returns continue. The price return index has not […]

Blue Capital Global Reinsurance Fund Limited, the Montpelier Re backed listed catastrophe reinsurance linked investment fund, has published its first prospectus in its push to raise more funds. As we wrote back on the 21st March here, Blue Capital will pursue a series of placings of new shares in the fund to accommodate new investor […]

Bermuda based Aspen Re, the reinsurance segment of Aspen Insurance Holdings Limited, has launched a capital markets focused division aiming to capitalise on the growing alternative reinsurance market and the increasing interest being shown in reinsurance by capital markets investors. As well as announcing the formation of Aspen Capital Markets, Aspen has also announced the […]

Asset management group Schroders is taking its first step into the insurance-linked securities and reinsurance-linked investments space after acquiring 30% of Switzerland based ILS and reinsurance investment manager Secquaero Advisors Limited. Schroders will now be able to offer ILS to its institutional investment clients for the first time and Secquaero get the backing of one […]