Archive for April, 2024

Tropical Storm Risk (TSR) has today raised its forecast for the 2024 Atlantic hurricane season, now saying it expects a “hyperactive” level of activity, with 11 Atlantic hurricanes now anticipated and 3 forecast likely to make landfall in the US.

Spreads for industry-loss index trigger catastrophe bond instruments have declined or tightened so much in recent months that indemnity cat bonds now look relatively more attractive for the first time, which necessitates a rethink about how cat bond portfolios are constructed, according to Florian Steiger, of Icosa Investments.

With the insurance-linked securities (ILS) and reinsurance marketplaces being document-heavy, UK-based legal and regulatory technology company Scribestar has an ambition to streamline document production and compliance for these sectors and is rolling out its platform globally.

Investor inflows to the catastrophe bond market and other areas of insurance-linked securities (ILS) helped non-life alternative reinsurance capital rise by 11.5% to a new record high of $107 billion by the end of 2023, according to the latest data from broker Gallagher Re.

Nephila Capital, the insurance-linked securities (ILS) investment manager owned by Markel, is in the catastrophe bond market seeking $100 million or more in aggregate industry-loss index based retro reinsurance for its flagship Lloyd’s syndicate 2357, through an Atela Re Ltd. (Series 2024-1) cat bond issuance.

Here are the ten most popular news articles, week ending April 7th 2024, 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.

This video features an expert panel discussing trends in the catastrophe bond market at our Artemis ILS NYC 2024 conference, held in New York on February 9th 2024.

U.S. primary insurer Nationwide Mutual Insurance Company is targeting at least $150 million in multi-peril reinsurance protection from the catastrophe bond market with a new Aquila Re I Ltd. (Series 2024-1)  transaction, its second to use this special purpose insurer, Artemis has learned.

The catastrophe bond hard market is over and prices have been softening since late 2023, leaving the market back close to the mean, but perhaps just beginning to dip into what Lane Financial calls soft market territory.

We are told that first-time catastrophe bond sponsor American European Insurance Company has now successfully priced the $125 million of Charles River Re Ltd. (Series 2024-1) catastrophe bond notes at roughly 10% below the mid-point of initial spread guidance.