Archive for December, 2023

The insurance-linked securities (ILS) marketplace is expected to remain an attractive place to deploy capital over the coming years, with “very attractive” returns expected to persist, according to SIGLO Capital Advisors AG.

After it was reported that the World Bank targets a significant increase in the use of catastrophe bonds by its client countries, already a number of potential future World Bank cat bond deals are being discussed.

There is a chance that the catastrophe bond market sees an even more significant year of new issuance next year, as factors are going to continue to support the demand for risk transfer, according to Nelson Seo, Co-Founder and Managing Director of Fermat Capital Management.

Sources of retrocessional reinsurance capital appear in greater supply at this January renewal season than a year ago, which has applied some pressure to rates-on-line at higher, more remote layers, while also shifting more of the balance of power back towards buyers in some cases, we understand.

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) made three payouts on parametric insurance policies to member governments from storms in the 2023 Atlantic hurricane season, taking the total it has paid out to almost US $266.8 million since its inception.

Parts of Queensland, New South Wales and Victoria have been struck by severe thunderstorms, convective weather and hail over the Christmas period, resulting in flooding and property damage, after which the Insurance Council has declared a “Significant Event.”

London headquartered specialty insurance and reinsurance underwriter Inigo is now seeking lower pricing for its latest catastrophe bond, with the price guidance for the $100 million of Montoya Re Ltd. (Series 2024-1) cat bond notes now updated to below the initial guidance range.

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

Artemis has now learned that global reinsurance firm Swiss Re has successfully priced the market’s first industry-loss triggered cyber catastrophe bond, securing the $50 million of coverage it had originally targeted from the Matterhorn Re Ltd. (Series 2023-1) transaction.

As the saga over Vesttoo moves rapidly towards the insurtech’s bankruptcy and liquidation, while the amounts available to claimants in the Chapter 11 case are minimal compared to the damage caused by the fraud that occurred, there are a range of administrative efforts still needed, one of which is the shuttering of investment fund structures […]