Archive for April, 2022

The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) delivered a 5.95% annual return to January 31st 2022, beating its main catastrophe bond benchmark.

Following its recent ratings downgrade, U.S. primary insurance carrier group FedNat has admitted there is substantial doubt over its ability to continue as a going concern, with a potential fall into receivership or failure to secure reinsurance seen as issues that could be fatal for the insurer.

Rating agency AM Best has maintained its outlook for the London insurance and reinsurance market at Stable, with improving access to third-party capital one of the key drivers.

Darren Toh, a portfolio strategy focused employee of insurance-linked securities (ILS) investment manager Nephila Capital, has moved across to the firm’s weather and climate risk focused division, Nephila Climate.

Last Friday we welcomed more than 200 attendees to our fifth insurance-linked securities (ILS) conference held in New York City and our first in-person event since the pandemic.

The recent April reinsurance renewals season has provided further details on 2022 pricing trends and reinsurers’ catastrophe risk exposure profile, which has led Moody’s to believe that property catastrophe reinsurance pricing still has room to go higher.

The catastrophe bond market is seeing spreads widen for practically all new issuances, with market sources telling us about a mismatch, on multiple counts, that has the effect of driving prices higher, and is also sending broader signals on the potential trajectory for catastrophe reinsurance rates at the mid-year renewals.

The latest catastrophe bond for long-standing sponsor USAA has seen its riskiest tranche of notes pulled from the issuance, while the pricing for the other four tranches of notes of the $375 million targeted Residential Reinsurance 2022 Limited (Series 2022-1) deal have all risen.

The first catastrophe bond to be sponsored by coastal property insurance underwriter SURE, or the SureChoice Underwriters Reciprocal Exchange, has now been priced and the company secured its initial target for $150 million of reinsurance from the Gateway Re Ltd. (Series 2022-1) transaction, but the coupon moved to the upper-end of guidance.

Here are the ten most popular news articles, week ending April 24th 2022, 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.