Archive for April, 2020

Global reinsurance company Swiss Re is back with what will be its fourth catastrophe bond in less than one year, as it seeks another $200 million or greater of U.S. named storm retrocessional support from the capital markets with Matterhorn Re Ltd. (Series 2020-3).

Louisiana Citizens Property Insurance Corporation, the non-profit state mandated insurer of last resort, is back in the catastrophe bond market for its first transaction located in Singapore, with a currently $50 million Catahoula Re Pte. Ltd. (Series 2020-1) deal.

Cooper Gay France, the European broker and wholesale managing general agency (MGA) that is part of the BGC Partners broking group, has acquired the Meteo Protect brand and technology, the specialist parametric and weather index insurance underwriting agency and Lloyd’s coverholder, we can reveal.

Leading United States life, retirement and annuities insurance and reinsurance company Global Atlantic explained to us that it sees its newly launched life and annuity co-investment vehicle named Ivy as akin to the sidecars that are a feature of the insurance-linked securities (ILS) market.

The majority of analysts and observers do not believe that the reinsurance and insurance-linked securities (ILS) industry faces a tidal wave of business interruption claims as a result of the coronavirus pandemic.

The two Guernsey domiciled rated reinsurance vehicles managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team have had their ratings affirmed and their underwriting strategies tweaked to reduce the volatility in their results going forwards.

Here are the ten most popular news articles, week ending 19th April 2020, 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 World Bank issued pandemic catastrophe bonds and pandemic risk-linked swaps have now been triggered and will pay out $195.84m, we’ve learned today, after the final trigger parameter of the growth-rate of coronavirus cases turned positive.

Global reinsurance capital levels have made a significant recovery broker Willis Re estimates, as the improvements in investment markets in recent weeks leads the company to believe that reinsurance capital is now only down roughly 5% since the beginning of 2020.

The mid-year reinsurance renewal season is set for further firming of premium rates as market conditions help to sustain and perhaps accelerate recent trends, something Leadenhall Capital Partners CEO Luca Albertini says is evident in early Firm Order Terms.