Archive for November, 2023

American Family Mutual Insurance Company, or AmFam as it is abbreviated, is back in the catastrophe bond market for now the fourth year running, this time seeking $150 million or more in capital market backed multi-peril catastrophe reinsurance, with a new Four Lakes Re Ltd. (Series 2023-1)  cat bond issuance.

NN Group, or Nationale-Nederlanden, has seen the price guidance for its new  Orange Capital Re DAC (Series 2023-1) catastrophe bond issuance narrow towards the upper-end of initial guidance.

Envelop Risk’s Capital Markets business continues to gain traction and the firm is close to deploying capital markets capacity via its Augmented Re Class 3A Reinsurer, says Co-Founder and Chief Executive Officer (CEO), Jonathan Spry.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has announced the launch of a UK based managing general agent (MGA) based in London, with the Lloyd’s syndicate backed entity set to underwrite global parametric business.

The market is anticipating specialty insurance and reinsurance company Fidelis will benefit from recoveries under two of its Herbie Re catastrophe bonds, as losses from hurricane Ian and the Tukey earthquake are expected to erode some of the principal of two tranches of notes.

The MMC UK Pension Fund has entered into a £2 billion longevity swap and reinsurance arrangement with Munich Re, its first swap to include active members, via a captive Guernsey insurance cell.

As 2024 fast approaches, analysts at investment bank Morgan Stanley currently don’t see any sign of headwinds to affect reinsurance pricing for the renewals and into the next year, with capital supply remaining balanced in the sector.

Enact Mortgage Insurance has successfully closed on its new mortage insurance-linked securities (ILS) issuance, securing $248 million of collateralized mortgage reinsurance protection from the capital markets with the issuance of Triangle Re 2023-1 Ltd. mortgage insurance-linked notes.

The global reinsurance market now appears to have returned to a pre-soft market state of providing capital protection, rather than earnings protection, Fitch Ratings has said.

U.S. primary insurer Safepoint Insurance Company is the latest to seek to upsize a new catastrophe bond issue, with the target for named storm reinsurance protection from the Nature Coast Re Ltd. (Series 2023-1) issuance lifted to between $165 million and $225 million, we understand.