Archive for November, 2013

American International Group (AIG) is seeking to add to its catastrophe bond sourced reinsurance protection through the launch of a second Tradewynd Re cat bond, its sixth cat bond sponsorship in total, with Tradewynd Re Ltd. (Series 2013-2).

Primary and military mutual insurer USAA’s latest, and twenty-first, catastrophe bond transaction, Residential Reinsurance 2013 Ltd. (Series 2013-2), has been priced at the lowest end of the guidance ranges, demonstrating investors appetite for riskier cat bond tranches.

It’s time for another of our quarterly looks at two key metrics which reflect recent trends in the catastrophe bond issuance market. These two metrics demonstrate where insurance-linked securities investors risk appetite lies, when it comes to cat bonds, and how pricing has moved recently.

Experienced insurance-linked securities and reinsurance capital markets executive Chris McKeown is returning to the ILS space to join the New Ocean Capital Management Limited ILS investment manager, which was recently launched by XL Group and Stone Point Capital.

Rating agency A.M. Best has affirmed the debt rating on the $800m tranche of life insurance-linked securities which were issued by through Northwind Holdings LLC., on behalf of sponsoring life insurer UNUM Group.

A wide range of insured loss estimates is emerging from risk modellers for the damage to the insurance and reinsurance industry from devastating Super Typhoon Haiyan, which struck the Philippines with deadly force. Estimates currently range from $100m to $700m.

Blue Capital Management, the third-party capital and reinsurance-linked fund management arm of Bermuda based reinsurer Montpelier Re, has announced the successful raising of $23m of new capital from investors through the latest share placement for its listed fund.

Yesterdays outbreak of severe thunderstorms, which triggered large hail, damaging winds and tornadoes across the U.S. midwest, is not expected to impact any of the catastrophe bond positions in Swiss catastrophe bond investment fund manager Plenum Investments portfolio.

You can read every market news story and article, week ending 17th November 2013, here on the Artemis news blog. Subscribe to the weekly email newsletter updates and for your convenience here are the ten most popular news articles from the last seven days on Artemis.

Insurance-linked securities (ILS) investors have shown their willingness to take on new levels of catastrophe reinsurance risk, helping USAA’s latest cat bond, Residential Reinsurance 2013 Ltd. (Series 2013-2), increase in size while price guidance has dropped to below the originally marketed range.