Archive for April, 2025

Rates for property insurance are declining across the globe with abundant capacity in the sector and insurers now benefiting from cheaper reinsurance costs, all of which is softening the property insurance market, commentary from broker Marsh suggests.

This video features an expert panel discussing finding balance for sponsors and investors in the catastrophe bond segment of the insurance-linked securities (ILS) market at our Artemis ILS NYC 2025 conference, which was held in New York on February 7th 2025.

RenaissanceRe, the Bermuda based reinsurance company and third-party capital manager, has raised almost $462 million in new third-party capital across its range of joint-ventures and insurance-linked securities (ILS) funds in the first-quarter of 2025, but the California wildfires saw losses shared with investors and dented the firms fee income for the period.

Palomar Insurance Holdings has raised the target size for its new Torrey Pines Re Ltd. (Series 2025-1) catastrophe bond issuance, with now as much as $525 million of California earthquake reinsurance limit being sought from the capital markets through this deal.

Artemis has learned that a new Liongate Re DAC catastrophe bond is in the market with a target to secure $100 million of limit to provide Japanese mutual Zenkyoren with aggregate earthquake reinsurance, while also providing a source of German parametric quake cover as well which we believe may protect entities of the Sparkassen-Finanzgruppe.

The recent $100 million Nakama Re Pte. Ltd. (Series 2025-1) catastrophe bond sponsored by Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, was the first ever cat bond issuance to utilise bonds issued by the Asian Development Bank (ADB) as collateral assets.

New York and northeast US focused insurer Kingstone Companies has entered the catastrophe bond market for the first time, seeking $100 million or more in named storm reinsurance protection from the capital markets with a debut 1886 Re Ltd. (Series 2025-1) issuance, Artemis has learned.

For full-year 2024, AXIS Capital ceded $323 million of prospective reinsurance premiums to its Monarch Point Re casualty insurance-linked securities (ILS) platform, which was an increase of 13% over the prior year. In addition AXIS earned an increased level of fees and commissions from the ILS structure.

Global Parametrics, part of the CelsiusPro Group, has been named a Lloyd’s coverholder for Canopius Syndicate 4444, marking a significant expansion in capacity for its delivery of parametric risk transfer solutions for natural catastrophe events.

The insurance industry loss from Cyclone Alfred’s impacts in Australia during the first-quarter of 2025 has been initially estimated at almost AU $2.6 billion by catastrophe data aggregator PERILS AG.