Archive for April, 2024

In a relatively rare occurrence for the catastrophe bond market today, the price guidance for the latest cat bond issuance for Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, the $150 million Nakama Re Pte. Ltd. (Series 2024-1), has narrowed towards the upper-end of guidance.

Global reinsurance firm Hannover Re has successfully sponsored a $13.75 million Cumulus Re (Series 2024-1) parametric cloud outage catastrophe bond that was privately issued and placed using the firm’s Kaith Re Ltd. vehicle, with modelling of the cyber risks undertaken by Parametrix.

Here are the ten most popular news articles, week ending April 14th 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.

The Ambassador mutual catastrophe bond fund strategy has continued to grow its assets under management in recent months, adding $63.3 million since we last reported on it, to reach $191 million in net assets under management.

Flooding and severe convective storm (SCS) activity across the central and southern US between April 6th and 11th caused some notable property damage, with total economic and insured losses potentially in the hundreds of millions of dollars or higher, according to insurance and reinsurance broker Aon.

Catastrophe loss data aggregator PERILS AG has released its Industry Exposure Database (IED) for 2024, which highlights the continued impact of inflationary developments on exposures, with sums insured for European windstorm up 10.1% year-on-year at constant EUR exchange rates.

While the pricing of cat bond notes stabilised somewhat in the final quarter of 2023, persistently firm reinsurance and retrocession rates saw investors achieve higher risk-adjusted pricing throughout the year, according to Artemis’ data.

The giant more than $9 billion portfolio of insurance-linked securities (ILS) and reinsurance investments managed by PGGM, the Dutch pension investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, delivered a record 18.9% return in 2023.

The recently settled $125 million Charles River Re Ltd. (Series 2024-1) catastrophe bond is a valuable addition to the reinsurance arrangements that support MGU ShoreOne Insurance Managers and carrier American European Insurance Company’s efforts to address the coastal flood risk protection gap, the two firms have said.

The City National Rochdale Select Strategies Fund, a US mutual insurance-linked securities (ILS) fund focused on investments into industry-loss warranties (ILW’s) and industry-index trigger catastrophe bonds, delivered its strongest annual performance in the last year, with an almost 15.6% return to its investors.