Archive for June, 2024

In a move signalling acceptance of alternative sources of risk and reinsurance capital in the market, the Lloyd’s Market Association (LMA) has named to its Board Adam Beatty, Chief Executive Officer of Nephila Syndicate, the Lloyd’s operation of ILS manager Nephila Capital.

FloodFlash, a flood risk focused insurtech company that offers an innovative sensor-based approach to parametric flood insurance, has secured capacity support from reinsurance giant Munich Re’s Specialty division to enable it to expand its parametric flood product across America.

According to the latest data release from the General Insurance Association of Japan, insurance claims for the January 1st M7.5 earthquake that hit near the Noto Peninsula in Ishikawa prefecture now stand at around US $571 million, while a hailstorm event in Hyogo prefecture in April has driven US $355 million in claims so far.

“Insurance is the financial bedrock needed to de-risk investments and attract the additional capital necessary to mobilise the climate transition,” Rowan Douglas of Howden said today. To meet this goal, with exposure growing fast, there will be a significant need for more insurance capacity, with a role for the insurance-linked securities (ILS) market in delivering […]

SageSure, the coastal property managing general underwriter, has lifted the target for its second county-weighted industry-loss trigger catastrophe bond, with now $60 million of hurricane protection sought from the issuance of Gateway Re Ltd. (Series 2024-4) notes.

Here are the ten most popular news articles, week ending June 23rd 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.

Italian and global insurance giant Assicurazioni Generali S.p.A. has revised its framework for green catastrophe bonds to incorporate updates and expand its scope, now publishing a Green, Social and Sustainability Insurance-linked Securities Framework in its place.

Catastrophe bond investors continue to express their risk appetites through pricing and their demand for return, with the latest example being a pricing-up of the still $100 million Mayflower Re Ltd. (Series 2024-1) transaction from the Massachusetts Property Insurance Underwriting Association (MPIUA), Artemis can report.

Hannover Re, the German global reinsurance company, is now aiming to upsize its latest retro catastrophe bond, lifting the target for the 3264 Re Ltd. (Series 2024-1) issuance to as much as $140 million, this publication has learned.

Catastrophe bond new issuance continues apace in 2024 and has reached $12.1 billion including the latest deals to hit the market and settle today, which means the pace of issuance is now running 29% ahead of the prior year, according to the latest data from Artemis.