Archive for December, 2022

RenaissanceRe, the Bermuda based specialist reinsurance firm and third-party capital manager, has lifted the targeted size for its new Mona Lisa Re Ltd. (Series 2023-1) catastrophe bond to $200 million, while the pricing of each tranche of notes being issued looks set to come in within guidance.

According to Artemis’ sources there have been some signs of increased appetites among certain markets, but in general the ongoing and yet-to-clear January 2023 reinsurance renewals have exposed a gulf between property catastrophe capacity and demand for cover.

The third catastrophe bond transaction to be issued out of Hong Kong is now “in the pipeline” according to the Chairman of the Hong Kong Insurance Authority.

The ongoing extreme cold, blizzards and severe winter storm weather that has impacted much of the United States, Canada and even stretched down to northern Mexico, is expected to be a costly event in insurance terms, given the significant footprint of the polar weather event.

The Plenum CAT Bond UCITS Fund Indices, an index that provides a reasonable proxy for cat bond fund performance across the market, saw mixed fortunes again between the lower and higher risk strategies in the last week of record, while the overall year-to-date performance has continued to improve.

Here are the ten most popular news articles, week ending December 25th 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.

Peter Zaffino, the CEO of insurance giant AIG, sees the current hardening reinsurance market environment as a “solid growth opportunity” for the firm’s Bermuda-headquartered reinsurer Validus Re.

With the 1/1 2023 reinsurance renewals fast approaching, investor Amundi US says it is “very constructive” on the insurance-linked securities (ILS) asset class, thanks to the favourable pricing trends.

American Family Mutual Insurance Company, or AmFam as it is abbreviated, has failed to secure an upsize for its new Four Lakes Re Ltd. (Series 2022-1) multi-peril catastrophe bond, with the transaction set to close at the initial $100 million target size.

Sompo International, the global P&C insurance and reinsurance arm of Sompo Holdings, has successfully upsized its new Sakura Re Ltd. (Series 2022-1) catastrophe bond to provide it with $150 million of reinsurance protection.