Archive for April, 2023

Catastrophe bonds are typically a risk transfer structure protecting an insured or reinsured against losses that affect its portfolio, which normally means a focus on loss and damage to physical assets. But increasingly interruption and people’s humanitarian needs are coming into the coverage equation, with broker Aon pioneering some of these moves according to its […]

Reflecting the improved underwriting and rate conditions in the global reinsurance marketplace, for the first time in a decade the average underlying return on equity (ROE) has surpassed the sector’s weighted average cost of capital (WACC), data from Gallagher Re shows.

There has been a further extension of maturity for a number of the 2022 vintage Seaside Re private catastrophe bond transactions that were issued by German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd., but some have now been allowed to mature, indicating greater clarity over the covered loss events.

Cincinnati Financial Corporation has announced an expectation that it will report pretax catastrophe losses of approximately $235 million, with severe US storms and tornadoes in March the main drivers.

At this time of year, all thoughts turn to the mid-year reinsurance renewals, particularly those for Florida, and in 2023 it’s expected to be a particularly interesting few months, with signs of competitive tactics already emerging.

Jean-Louis Monnier, a long-standing insurance-linked securities (ILS) focused senior executive at global reinsurance giant Swiss Re, has been named Global Head of ILS, as the firm’s Alternative Capital Partners (ACP) reassigns some responsibilities.

New Zealand’s Toka Tū Ake EQC, also known as the Earthquake Commission, has entered the catastrophe bond market for the first time, seeking NZ $250 million (around US $156m) of multi-peril reinsurance from the capital markets with a Totara Re Pte. Ltd. (Series 2023-1) issuance.

The North Carolina Insurance Underwriting Association (NCIUA) has now secured the 75% upsized target of $350 million in named storm reinsurance protection from its new Cape Lookout Re Ltd. (Series 2023-1) catastrophe bond, that has been priced around 12% below the mid-point of initial guidance.

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, has now secured its new Japanese earthquake catastrophe bond Nakama Re Ltd. (Series 2023-1) to provide $225 million of reinsurance protection, while pricing settled at a reduced level compared to guidance.

Here are the ten most popular news articles, week ending April 16th 2023, 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.