Archive for March, 2025

Brit Limited, the specialty insurance and reinsurance player and part of the Fairfax group, is now aiming to secure its new catastrophe bond coverage at reduced pricing, as the still $100 million Lapis Series 2025-1 industry-loss triggered multi-peril deal has seen its price guidance lowered, Artemis has learned.

Core Specialty Insurance Holdings, Inc. has now finalised its new Yosemite Re Ltd. (Series 2025-1) catastrophe bond, we are told, securing the 27% upsized $95 million target for catastrophe reinsurance from the deal, while the notes were priced at the top-end of initial guidance.

2025 is shaping to be another strong year for catastrophe bond and insurance-linked securities (ILS) issuance following record growth seen across the market last year, despite the fallout from the Los Angeles wildfires in January, says global ratings agency AM Best.

Having previously said it was researching how to expand its insurance-linked securities (ILS) allocations beyond natural catastrophe risk, at a recent meeting executives of the Florida State Board of Administration explained that specialty lines, as well as casualty and cyber risks could be in scope for the large ILS allocator.

The growing demand for cyber insurance is driving increased interest in the cyber insurance-linked securities (ILS) market, with cyber catastrophe bonds emerging as a key tool for risk mitigation, according to a new report from S&P Global Ratings.

With all the insurance-linked securities (ILS) funds tracked by the ILS Advisers Fund Index now having reported their returns for January 2025, it’s become clear that there was a significant performance gap for the month due to the California wildfire losses.

Yokahu, an insurtech and Lloyd’s Coverholder, has announced the launch of a parametric risk exchange platform for the London insurance and reinsurance market, aiming to seamlessly connect brokers, carriers, and data providers to streamline parametric risk transfer transactions.

Elementum Advisors, LLC has added new Chief Investment Officer (CIO) roles to its structure, with long-standing employees Jeff Davis and Paul Barker taking on investment oversight and responsibility for the catastrophe bond and collateralized reinsurance areas of the business, respectively.

Artemis has learned that Sutton National Group is now aiming to secure an upsized $100 million in fire reinsurance protection for California via its debut Greengrove Re Ltd. (Series 2025-1) catastrophe bond issuance.

A number of aggregate catastrophe bonds have already seen their annual deductibles severely eroded by previous catastrophes and with this weekend’s severe weather activity in the United States providing a reminder of the tornado threat, cat bond fund manager Icosa Investments has cautioned investors to assess the risk of certain deals wisely.