Archive for June, 2021

According to reports in the French media, insurance group Covéa is targeting an acquisition of AXA’s non-life reinsurance operations, which would be the Bermuda headquartered AXA XL Re division.

Here are the ten most popular news articles, week ending 27th June 2021, 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.

Italian and global insurance giant Assicurazioni Generali S.p.A. has hailed the successful completion of its first green catastrophe bond issuance, the EUR 200 million Lion III Re DAC transaction.

The Hong Kong Insurance Authority has today published guidelines related to its new insurance-linked securities (ILS) regulatory framework in the Government Gazette, with details on applications to establish special purpose insurers (SPI) in the domicile now finalised.

Tornadoes, severe thunderstorms and related convective weather plus flooding are set to drive hundreds of millions in losses across the United States and Europe this week, according to Aon unit Impact Forecasting.

Further demonstrating how attractive the catastrophe bond market is for sponsors right now, US primary insurance giant State Farm has returned to the 144A catastrophe bond market for its second issuance in just two months, completing a $300 million Merna Re II Ltd. (Series 2021-2) deal in recent days.

A new report shows that weather related disasters were the primary driver of displaced people in 2020, with almost three-quarters of people internally displaced affected by weather, with storms and flooding the primary peril drivers of this.

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has gained roughly 8% in the last month thanks to a further reduction in claims from 2017 and 2018 wildfire loss events.

While capital has become more abundant, fungible and cheaper as a result over the last decade, it remains important as the “entry ticket” to the world of insurance and reinsurance, but it is no longer the main value proposition, Swiss Re CEO Christian Mumenthaler said today.

Essent Guaranty has now secured almost $558 million of capital markets backed mortgage reinsurance protection with its latest and sixth mortgage insurance-linked securities (ILS) transaction, after the Radnor Re 2021-1 Ltd. issuance closed at keen pricing for the company.