Archive for February, 2025

According to broking group Howden, inflows are accelerating in ILS arrangements for casualty, managing general agents (MGAs), cyber insurance-linked securities (cyber ILS) and reinsurance sidecars, as capacity providers look to grow existing premium pools.

The North Carolina Insurance Underwriting Association (NCIUA) has returned to the capital markets seeking $350 million of annual aggregate named storm reinsurance protection through this Cape Lookout Re Ltd. (Series 2025-1) catastrophe bond.

Here are the ten most popular news articles, week ending February 9th 2025, 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.

White Mountains has reported that for full year 2024, its investment into the Outrigger Re collateralized reinsurance sidecar, which supports its property and casualty insurance and reinsurance subsidiary Ark, delivered income of $46 million, down 33% on 2023 as catastrophe losses had a far greater impact.

Euler ILS Partners, the specialist insurance-linked securities (ILS) investment manager, has issued an updated event report for the California wildfires, saying it believes the insurance industry loss may sit between $23 billion to $33 billion.

Artemis has learned that the California Earthquake Authority (CEA) has now increased the target size for its latest catastrophe bond for a second time, lifting its initial Ursa Re Ltd. (Series 2025-1) offering by 100% to provide $400 million in multi-year collateralized California earthquake reinsurance protection, while the price guidance remains fixed at 7.5%.

According to insurance broker Marsh, global property insurance rates fell by 3% in the fourth quarter of 2024, following a 2% fall in Q3, with the Pacific region experiencing the largest decrease, at 8%, while both the US and UK declined 4%.

Tower Hill Insurance Exchange has now successfully priced its second catastrophe bond transaction, securing the 75% upsized target of $175 million in Florida named storm reinsurance protection from the Winston Re Ltd. (Series 2025-1) issuance.

Parameter Climate, the parametric climate and weather risk transfer focused underwriter and advisor, has announced the formation and launch of a Bermuda-based transformer vehicle named Parameter Capital Bermuda Ltd, as the company looks to broaden access to its deals and syndicate parametric risk to non-traditional capital.

German reinsurer Hannover Re has today reported an inflation and risk-adjusted price decline on renewed business of 2.1% at the January 1st 2025 renewals, while the firm took advantage of greater demand for protection, growing its portfolio by 7.6% to more than EUR 11.03 billion.