Archive for November, 2014

Non-life insurance and reinsurance group Amlin plc has a new catastrophe bond in the market, with the launch yesterday of Tramline Re II Ltd. (Series 2014-1), as it seeks to renew a soon to mature slice of capital markets cat bond protection.

Mariah Re Ltd. has filed an appeal against the recent ruling which found that the terms governing the definition of and process for defining qualifying events under the catastrophe bond were unambiguous and that the payout should stand.

The outstanding catastrophe bond and insurance-linked securities market, based on transactions listed in the Artemis Deal Directory, has reached a new all-time high of $23.431 billion, demonstrating that ILS and cat bonds continue to generate strong interest.

Insurance-linked securities (ILS) and reinsurance-linked investment manager Leadenhall Capital Partners has helped Amlin plc to increase its property catastrophe business underwritten, as the partnership continues to enhance the non-life re/insurers position.

The latest catastrophe bond from U.S. primary insurer USAA, the Residential Reinsurance 2014 Ltd. (Series 2014-2) deal, has not increased in size while being marketed, we understand, but the price guidance range has been narrowed towards the mid-point.

State National Companies has seen growth in its program services business, where it enables capital and capacity to access U.S. insurance business through fronting for it, thanks to capital market alternatives to reinsurance and ILS players.

The longevity swap, longevity reinsurance and pension risk transfer market continues to grow, with £30 billion of pension risk transfers undertaken year-to-date with almost £22 billion of these consisting of longevity swap deals, according to Aon Hewitt.

The settlement and completion of the $500m Kilimanjaro Re Ltd. (Series 2014-2) catastrophe bond today takes 2014 issuance of new cat bonds and insurance securitisations to $7.143 billion, keeping the market on track for a possible record year.

The attention being paid to the hedge fund reinsurance business model and the fact that others are now looking to leverage bits of it within their own strategies, is validating for reinsurer Greenlight Capital Re, according to CEO Bart Hedges.

FWU Group subsidiary, Luxembourg based life insurance company Atlanticlux is to tap the capital markets once again in a proposed €55 million value in force (ViF) life insurance linked securitisation through incorporated cell vehicle Anima Re A IC Limited.