Archive for May, 2017

Floridian primary insurer Avatar Property and Casualty Insurance Company’s Casablanca Re Ltd. (Series 2017-1) catastrophe bond transaction is now set to complete at $100 million, as the size increased on all three tranches of notes before final pricing.

Here are the ten most popular news articles, week ending 28th May 2017, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates.

The World Bank has called for the ongoing development of its Pandemic Emergency Financing Facility (PEF), to incentivise greater investment in preparedness, and take advantage of the opportunity to deliver business interruption (BI) cover for the private sector as it works towards PEF-2.

A bipartisan draft proposing a raft of changes and amendments to legislation surrounding the National Flood Insurance Program (NFIP) calls on House members to enable the flood insurance pool to cede more of its risk to the capital markets, using a full-range of reinsurance risk transfer tools.

The returns of insurance-linked securities (ILS), pure catastrophe bond and reinsurance-linked investment funds were knocked by severe thunderstorm activity across the United States in April, resulting in a below-average for the month 0.15% return.

In another sign of the increasing importance of the insurance-linked securities (ILS) market and collateralized reinsurance protection, United Insurance Holdings (UPC Insurance) has revealed that 70% of the open market limit placed for its June 2017 reinsurance renewal was on a fully-collateralized basis.

The U.S. National Oceanic & Atmospheric Administration (NOAA) has released its forecast for the 2017 Atlantic tropical storm and hurricane season, saying that factors lead it to predict an above average level of activity for the season.

The London and Bermuda listed CATCo Reinsurance Opportunities Fund Ltd., which is managed by reinsurance and retrocessional reinsurance linked investment management firm Markel CATCo Investment Management Ltd., has raised another $46 million for the mid-year renewals, taking the fund’s total assets past $500 million.

Alternative sources of reinsurance capital and their appetite to access diversified sources of insurance and reinsurance risk, including life risks, are expected to offset the price hardening effects of consolidation in the life reinsurance sector, according to Deloitte.

Global Parametrics, the parametric and index-based risk transfer start-up that is backed by the German Government, through its development finance bank KfW, the Climate Insurance Fund and the UK Government’s Department for International Development (DFID), has appointed a new Chairperson, Nina Shapiro.