Archive for December, 2023

Hamilton, the Bermuda based insurance and reinsurance holding company, has now successfully priced its new catastrophe bond issuance to provide the upsized target of $200 million in collateralized multi-peril retrocessional reinsurance, while the Easton Re Ltd. (Series 2024-1) cat bond notes were finalised to pay a below-guidance spread.

Hiscox Group is sponsoring its first catastrophe bond in more than two decades, seeking $100 million or more in peak peril aggregate retrocessional reinsurance from the capital markets through an Ocelot Re Ltd. (Series 2023-1) issuance.

The Board of the Texas Windstorm Insurance Association (TWIA) approved its staff to begin the process of renewing both catastrophe bonds and reinsurance for 2024 yesterday, with the understanding that around $1 billion more in reinsurance funding may be needed in 2024.

Beazley has for a second time increased the target size of its debut 144A cyber catastrophe bond issuance, with the PoleStar Re Ltd. (Series 2024-1) deal now aimed to secure $140 million of cyber reinsurance for the company.

Insurance firm Liberty Mutual has now successfully secured the upsized $300 million of reinsurance from its new Mystic Re IV Ltd. (Series 2024-1) industry-loss triggered catastrophe bond and the notes have now been priced below the initial guidance, we’re told.

Insurance carriers in the state of Florida have become more creative with how they approach their reinsurance program needs, finding solutions and using alternatives to ensure protection, but challenges persist, rating agency KBRA said in a new report. We think this could lead to some interesting renewal activity in 2024, given the efficiency of ILS […]

Global insurance giant Allianz has now secured the targeted €250 million in European windstorm reinsurance protection from its Blue Sky Re DAC (2023-1) catastrophe bond issuance, with the notes eventually being priced at the top-end of the initial guidance range.

Hamilton, the Bermuda based insurance and reinsurance holding company, has lifted its target for its second ever catastrophe bond issuance, now seeking $200 million in collateralized multi-peril retrocessional reinsurance from the Easton Re Ltd. (Series 2024-1) transaction.

Global reinsurance giant Swiss Re is bringing the first industry-loss triggered cyber catastrophe bond to market, seeking $50 million of retrocession against systemic cyber loss events through a Matterhorn Re Ltd. (Series 2023-1) transaction.

This video features a fascinating panel discussion on developments in cyber catastrophe bonds from our Artemis London 2023 catastrophe bond and insurance-linked securities (ILS) conference, that was held in London on September 5th 2023.