Archive for January, 2025

According to senior executives at Reinsurance Group of America (RGA), the fee income flowing to the company from its third-party capitalised Ruby Re life reinsurance sidecar is already meaningful and while a new transaction was ceded to the sidecar in Q3 last year, the structure still had around two-thirds of its capital and capacity left […]

There are only two weeks left until our next catastrophe bond and insurance-linked securities (ILS) conference. Artemis ILS NYC 2025 is being held in New York on February 7th. With space now running low, please register to ensure you can join us at the event.

Aetna, the health, medical and benefits insurance unit of CVS Health, has now finalised the details of its sixteenth health and medical benefit claim linked insurance-linked securities (ILS) deal, securing the targeted $250 million of reinsurance from the Vitality Re XVI Ltd (Series 2025) issuance and making it the largest Vitality Re deal yet.

Inigo Insurance, the London headquartered specialty insurance and reinsurance underwriter, has now finalised its latest catastrophe bond, with its new $115 million Montoya Re Ltd. (Series 2025-1) issuance now priced, which is the first cat bond from the company to feature multiple tranches, one being a new subsequent event cover.

One of the imperatives for growth of the catastrophe bond market has always been the onboarding of new first time cat bond sponsors into the market and Artemis’ data indicates over 40 have been added to our catastrophe bond sponsor leaderboard in just over three years.

The successful issuance of its debut catastrophe bond, the C$150 million MMIFS Re Ltd. (Series 2025-1) deal, helps to ensure that sponsor TD Insurance can be there for its customers “when it matters most”, President and CEO James Russell has said.

Lockton Re, the reinsurance arm of the independent broking group, has now confirmed the role former Gallagher Re executive Theo Norris has taken at the firm, appointing him UK Capital Markets Structuring and Cyber ILS Leader.

Steel City Re is the world’s only provider of parametric reputation insurance offerings, leveraging a reputational value index that delivers more stable and higher returns for reinsurers and insurance-linked securities (ILS) investors, according to co-founder and CEO Nir Kossovsky.

According to sources, retrocessional reinsurance arrangements are not expected to play a particularly significant role in supporting reinsurers losses from the Los Angeles, California wildfires, aside from support being received through quota share arrangements and collateralized sidecar structures.

Catastrophe risk modelling specialist Karen Clark & Company (KCC) estimates that the insured loss (from privately insured and FAIR plan policies) to residential, commercial, and industrial properties, and autos from both the Palisades and Eaton wildfires in Los Angeles will sit close to $28 billion.