Archive for December, 2019

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PIMCO cites cat bonds as ESG asset for new multi-strat funds

Investment management giant PIMCO (Pacific Investment Management Company LLC) believes catastrophe bonds can be an ESG (environmental, social and corporate governance) appropriate investment, adding them as fixed income assets two of its new funds are able to allocate to. PIMCO has launched the PIMCO Climate Bond Fund and the PIMCO Enhanced read the full article →

Palomar expands January renewal reinsurance purchase for 2020

Speciality California-based catastrophe exposed property insurer Palomar Insurance Holdings has continued to expand its reinsurance arrangements at the January 2020 renewals, adding another $145 million of limit while renewing $300 million. Palomar has been growing its business rapidly and leveraging reinsurance capital to support its expanding underwriting portfolio. Earlier this year, the read the full article →

RenRe to settle Mona Lisa Re 2020 cat bond at $400m in size

RenaissanceRe, the Bermuda-headquartered global reinsurance firm and third-party capital manager, has settled for a 60% upsizing of its latest catastrophe bond, with the Mona Lisa Re Ltd. (Series 2020-1) cat bond transaction now priced at $400 million in size. The reinsurer had originally come to market with a $250 million Mona read the full article →

AXIS issues $64.14m Alturas collateralised sidecar tranche for 2020

AXIS Capital, the global specialist re/insurer headquartered in Bermuda, has issued a first tranche of notes from its collateralised reinsurance sidecar vehicle Alturas Re Ltd. for 2020, sponsoring a $64.14 million issuance to expand on the collateralised quota share arrangement. AXIS Capital’s Alturas Re reinsurance sidecar issued $169 million of notes read the full article →

Nephila & Allianz’s Enel wind farm proxy revenue swap comes on-risk

Nephila Capital, the largest investment manager of insurance and reinsurance linked securities, is a regular participant in wind energy proxy revenue swap deals, alongside transaction partner Allianz Risk Transfer (Allianz ART). Nephila Climate, the weather and climate risk and reinsurance focused unit of the largest ILS fund manager Nephila Capital, regularly read the full article →

Bermuda re/insurers use of reinsurance increasing: BMA report

Insurance and reinsurance companies in Bermuda have been using increasing amounts of reinsurance, in particular property catastrophe, quota shares and property per risk contracts. According to a report from regulator the Bermuda Monetary Authority (BMA), Bermuda's re/insurers ceded almost 52% of their losses to sources of reinsurance capital in 2018, with read the full article →

Some ILS funds adjusted typhoon Hagibis losses in November

A number of insurance-linked securities (ILS) fund managers have adjusted their Japanese typhoon Hagibis loss reserves or side pockets in November, resulting in some positive and negative movements, we understand. Typhoon Hagibis, which made landfall on Japan's main island of Honshu in the Kanto region on October 12th as a strong read the full article →

Artex private cat bond vehicle completes $50.26m issuance

Private catastrophe bond issuance continues apace in time for the January 2020 reinsurance renewals, with a new $50.26 million cat bond lite issuance taking the 2019 total for these more privately placed deals just over $900 million, according to Artemis data. A $50.26 million Artex SAC Limited – Series IX Notes read the full article →

Best of Artemis, week ending 29th December 2019

Here are the ten most popular news articles, week ending 29th December 2019, 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. Get your read the full article →

ILS NYC 2020: Neuberger Berman & Markel speakers join

As year-end approaches, there isn't long to go until our next insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2020. This is our latest speaker announcement. Please register soon to secure your ticket to attend. We’re holding our fourth annual insurance-linked securities (ILS) conference held in New York City read the full article →