Archive for June, 2017

Here are the ten most popular news articles, week ending 4th June 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.

Eclipse Re Ltd., the Horseshoe Group and Rewire Securities LLC operated private syndicated collateralized reinsurance note platform, has issued its largest private ILS or catastrophe bond deal to-date, with a $53.3 million Eclipse Re Ltd. (Series 2017-02A) transaction.

The latest forecast to be released for the 2017 Atlantic Tropical Storm & Hurricane Season joins others in suggesting a more active season, with a greater number of hurricanes likely to form over the coming months, as Colorado State University forecasters also increase their predictions for landfalling storms on the U.S. coastline.

A $45 million tranche of insurance-linked notes have been issued through Bermudian reinsurer RenaissanceRe’s vehicle Fibonacci Reinsurance Ltd., a sidecar-like structure that can provide investors with catastrophe bond-like investments.

The Lloyd’s Market Association (LMA) is setting up a Members’ Agents Committee, which will be given the task of representing the interests and priorities of both providers of, and advisors to, third-party insurance or reinsurance capital at Lloyd’s of London.

The targeted issuance size for the Massachusetts Property Insurance Underwriting Association (MPIUA) latest catastrophe bond Cranberry Re Ltd. (Series 2017-1) has risen again to $350 million, while at the same time the price guidance has dropped to the bottom of the originally marketed range.

Reinsurance renewal rates fell by as much as 10% in places at June 1st 2017, as the market was once again characterised by high levels of capacity and competition, but with the ILS fund market demonstrating a “renewed vigour” as managers looked to increase their shares of major programs.

AlphaCat Managers Ltd., the insurance-linked securities (ILS) and third-party reinsurance capital arm of Validus Holdings, has announced the hiring and appointment of experienced ILS executive Bernard Van der Stichele to the role of Portfolio Manager and announced Chris Silvester of Validus will take on responsibility for reinsurance origination.

Homeowners Choice Property & Casualty Insurance Company, Inc., an HCI Group wholly owned subsidiary, has secured its 2017 reinsurance renewal at what the insurer explained as “improved coverage terms and conditions”, spending a similar amount to last year.

The catastrophe bond and insurance-linked security (ILS) market has reached another milestone as of the 1st June 2017, with issuance for the year now at $8.15 billion which takes the size of the outstanding cat bond market to a new record at over $29 billion.