Archive for April, 2013

Two new catastrophe bond deals launched in the last seven days, a parametric Turkish earthquake cat bond in Bosphorus 1 Re Ltd. and a second cat bond from Louisiana Citizens which we announced on Friday in Pelican Re Ltd. 2013-1. As always, you can read every market news story and article on the Artemis news […]

Louisiana Citizens Property Insurance Corporation, the coastal windstorm insurer of last resort in the state of Louisiana, has launched a new catastrophe bond deal, Pelican Re Ltd. Series 2013-1, according to sources. This is not altogether unexpected given that LA Citizens CFO Steve Cottrell had recently said that if the price was right the insurer […]

Yesterday we covered the release of reinsurance broker Aon Benfield’s latest reinsurance renewals report. The report contains insight and comments on the alternative capital inflows and pricing trends being seen in the insurance-linked securities market versus traditional reinsurance renewals. The report also contains a review of the Q1 2013 catastrophe bond market, looking at issuance, […]

The market for insurance-linked securities (ILS) and catastrophe bonds is already beginning to resemble a soft market, as evidenced by the pricing of recent deals. Take into account the levels of excess capital in the insurance, reinsurance and ILS sectors, all are capitalised to very healthy levels and the ILS market continues to receive new […]

As we reported on Monday, the latest catastrophe bond to come to market is a parametric transaction called Bosphorus 1 Re Ltd. which is being marketed on behalf of the Turkish Catastrophe Insurance Pool (TCIP). The Bosphorus Re cat bond brings investors an opportunity to diversify their portfolios in the form of Turkish earthquake risk. […]

A Bill which contains a measure aiming to ease smaller Florida insurers access to capital market sources of risk transfer continues to make its way through the Florida Senate successfully. What began as Bill SPB 7018 which we covered in a previous article here, has now been submitted as submitted as Committee Bill SB 1770 […]

Specialist Bermuda based reinsurance-linked investment business CATCo Investment Management, which manages investment clients assets and deploys them as retrocessional reinsurance capacity, has announced a new appointment to the firm as of the 1st of April. Judith Wynne joins CATCo as Group General Counsel and Company Secretary and will report directly to Jason Bibb, CATCo’s Chief […]

One of the largest pension risk transfer deals on record could be subject to a class action lawsuit after a judge ruled that retirees could launch a legal action. The pension risk transfer deal, involving Verizon Communications transferring $7.5 billion of the Verizon Management Pension Plan obligations to insurer Prudential, had already been subject to […]

The latest reinsurance market renewals report from broker Aon Benfield has been published and it’s no surprise to see pricing in the insurance-linked securities and catastrophe bond markets getting a mention. Aon Benfield said that clients renewing significant capacity in the ILS markets have experienced risk adjusted price decreases of 25% to 70% for U.S. […]

Reinsurer Swiss Re’s contingent capital bond issuance came to market last month and succeeded in securing the Swiss based reinsurer a $750m source of capital protection linked to its solvency from investors. The transaction received a lot of attention in the press as it came to market and was reported to have been oversubscribed as […]