Archive for May, 2025

Kingstone Companies, the New York and northeast US focused insurer, has raised ambitions for its debut catastrophe bond sponsorship, with now up to $125 million of named storm reinsurance protection being sought from its debut 1886 Re Ltd. (Series 2025-1) issuance, Artemis can report.

Hannover Re is now targeting reduced pricing for its latest catastrophe bond, with the target remaining to secure $100 million  in retrocession covering US and North American peak perils from the 3264 Re Ltd. (Series 2025-2) transaction but its price guidance now lowered, Artemis has learned.

Losses to the Florida Hurricane Catastrophe Fund (FHCF) from hurricanes Helene and Milton in 2024 are set to come in lower than estimates, as its administrators now put the 2024 hurricane season loss at just $3.01 billion for the Cat Fund that provides a reinsurance-like reimbursement for a portion of a residential property insurers’ loss.

European insurers accelerated their use of subordinated debt markets in the first quarter of 2025, with issuance volumes hitting their highest Q1 level in 14 years, according to specialist insurance-linked securities (ILS) manager Twelve Securis.

Following the successful completion of its second catastrophe bond, the $50 million Black Kite Re Limited (Series 2025-1), Franz-Josef Hahn, CEO of reinsurer Peak Re, told us the issuance showcases the “tremendous potential” that insurance-linked-securities (ILS) solutions can play in narrowing protection gaps across Asia.

Having been hit hard by the wildfires in California this year and then explained that it would acquire more retrocession to protect its earnings from volatility due to secondary peril loss impacts, Conduit Re has stayed true to its word, purchasing catastrophe hedging for US and global secondary perils, as well as more aggregate retrocession.

Vantage Risk, the Bermuda headquartered insurance and reinsurance company, has appointed Steve Fales as Senior Vice President, Investor Relations within its partner capital business, effective immediately.

Two new restricted special purpose insurers (SPI) using the Merna Re name were registered in Bermuda in April. With these restricted SPI’s typically used as insurance-linked securities (ILS) issuers, especially for catastrophe bonds, the Merna Re name suggests these are likely for US primary insurance giant State Farm.

Calidris Investment Partners has been launched as a Bermuda-based insurance and reinsurance opportunities focused investment start-up by former Ontario Teachers’ insurance-linked securities (ILS) specialist Philippe Trahan and former Blackstone insurance transaction specialist Daniel Miller.

Global insured losses from natural catastrophes are on trend to hit USD 145 billion in 2025, continuing a steady 5%–7% annual growth trend seen in recent years, according to reinsurance giant Swiss Re.