Archive for March, 2017

The Aozora Re Ltd. (Series 2017-1) catastrophe bond issuance, sponsored by Sompo Japan Nipponkoa (SJNK), has increased in size again with the target raised to $480 million and at the same time the pricing lowered to the bottom of already reduced guidance.

Securis Investment Partners has become the first insurance-linked securities (ILS) focused investment manager to license the RMS Exposure Manager solution, the firms have announced.

Nephila Capital’s syndicate 2357 at Lloyd’s of London began to pick up risks through the State National program business arrangement in 2016, as the largest manager of reinsurance linked assets switched away from one of its collateralised vehicles as the program grew.

The Board of Florida’s Citizens Property Insurance Corporation has approved the proposal to allow it to call (or redeem) its $300 million Everglades Re II Ltd. (Series 2015-1) catastrophe bond transaction early, so it can return to the market with a clear view of its risk transfer opportunities.

Given catastrophe bond investors strong appetite for new issuance currently it’s no surprise to learn that U.S. primary insurance company Allstate’s new Sanders Re Ltd. (Series 2017-1) catastrophe bond has upsized to $375 million, while the price guidance has been lowered.

Independent Zurich based insurance-linked securities (ILS) and catastrophe bond fund manager Plenum Investments Ltd. has announced that its flagship fund, the Plenum CAT Bond Fund, has now grown its assets to beyond the $150 million level.

Allied World Assurance Company’s (AWAC) relationship with Aeolus Capital Management Ltd. helped the firm offset a decline in operational cash flows in 2016; with distributions from Aeolus increasing to $406 million while the re/insurer’s commitment to the partnership remained relatively flat.

The Philippines has long been the focus of disaster risk financing and insurance discussions, given its exposure to typhoons, earthquakes, fires, rainfall, floods and drought, and now the Asian Development Bank (ADB) is examining options for disaster insurance facilities.

Global reinsurance firm Munich Re has expanded its third-party capital ILS investor base in its collateralised sidecar and catastrophe bond issues, while also expanding the coverage of its Eden Re II sidecar to include four lines of business.

Insurance companies in New Zealand are set to reclaim NZ$694 million from the global reinsurance market for claims made in the wake of the 14th November magnitude 7.8 earthquake in Kaikoura, a total that is expected to rise further.