Archive for December, 2018

German reinsurance giant Hannover Re has assisted with and issued another private catastrophe bond transaction, or cat bond lite, with the issuance of a $10 million California earthquake risk exposed LI Re (Series 2018-1) deal for an unknown cedent and certain ILS investors.

Industry loss warranty (ILW) investment focused mutual insurance-linked securities (ILS) fund, the City National Rochdale Select Strategies Fund (CNRLX), has grown in its last reported quarter while at the same time losses from the prior year appear to have been largely settled.

Another private catastrophe bond, or cat bond lite, has been issued in time for the upcoming reinsurance renewal, the first from the Artex Risk Solutions owned segregated account reinsurance transformer platform in a year, a $50.22 million Artex SAC Limited – Series HX Notes transaction.

Four more Seaside Re private catastrophe bonds, or cat bond lites, have been issued with the help of global reinsurance firm Hannover Re, resulting in $60 million of new insurance-linked notes brought to investors through the reinsurers’ Kaith Re Ltd. Bermuda domiciled segregated accounts vehicle.

Here are the ten most popular news articles, week ending 23rd December 2018, 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 or get our email alerts for every article we publish.

The insurance-linked securities (ILS) market and alternative capital use in reinsurance is dominated by property catastrophe excess-of-loss contracts, a study by the Bermuda Monetary Authority (BMA) found.

There is a mix of optimism and panic as the key January 1st reinsurance renewal rapidly approaches, after losses, market improvement programs at Lloyd’s and a chaotic retrocession market, all continue to make conditions challenging for some.

Miller Insurance Services LLP, the London broker majority owned by Willis Towers Watson (WTW), has completed its acquisition of Lloyd’s accredited and London headquartered insurance and reinsurance broker Alston Gayler (AG).

Bermudian reinsurance firm RenaissanceRe is set to add to the amount of insurance-linked securities (ILS) notes from its Fibonacci Re Ltd. vehicle that have had their maturity extended, with $20 million from its 2018-1 issuance set to be held back while catastrophe losses from this year develop.

Two of Australia’s largest insurers are expecting their reinsurance treaties to trigger after a major hail storm struck the Sydney and surrounding area on Thursday, resulting in catastrophic damage and already more than 25,000 claims filed.