Posts by Luke Gallin, Author at Artemis.bm - Page 3 of 48

Great American Insurance Group is now targeting between $300 million and $350 million in multi-peril collateralized reinsurance through its Riverfront Re Ltd. (Series 2025-1) transaction, so likely to be its largest catastrophe bond issuance yet, while price spread guidance has been updated for the tranches of notes, Artemis has learned.

Louisiana Citizens Property Insurance Corporation, a non-profit residential and commercial property insurer for those unable to access private market insurance in the state, is now targeting $280 million of collateralized named storm reinsurance from its Bayou Re Ltd. (Series 2025-1) catastrophe bond issuance, while the spread guidance has narrowed from initial guidance, Artemis has learned.

Consecutive record years of cat bond issuance, a fast start to this year, a broadening investor and sponsor base, and expansion into perils like cyber and casualty, means it’s an exciting time to be in the insurance-linked securities (ILS) space, according to Jason Bolding, CEO of Gallagher Securities.

Catastrophe bond managers produced “another marquee year of returns” in 2024 and once again experienced a strong 12 months of inflows, according to analysis by Kepler Absolute Hedge, a research and data-led provider of insight into hedge fund strategies.

Gracie Point Holdings, LLC, a provider of life insurance premium finance, has closed a recent equity capital raise led by funds advised by Hudson Structured Capital Management Ltd. (HCSM) and Searchlight Capital Partners, L.P., providing the firm with “deep industry expertise and operational support.”

Life and health reinsurer Pacific Life Re has completed a EUR 2 billion longevity swap reinsurance agreement with Nationale-Nederlanden (NN Life) in the Netherlands, covering a block of in-force individual annuity life policies.

Specialty Risk RE (SRR), a non-cat property and casualty focused collateralised reinsurer launched in 2024, has successfully closed an initial $50 million institutional funding round, led by private equity firm NMS Capital Group.

Aeolus Capital Management Ltd., the specialist insurance-linked securities (ILS) and reinsurance investment manager, has announced the appointment of Giorgio Scrocca from OdysseyRe in London as Assistant Vice President (AVP), Underwriting.

Similar to the catastrophe excess of loss marketplace, the retrocession market softened to a degree at the January 1st, 2025, reinsurance renewals, and was generally more responsive to Bermuda-based reinsurer Conduit Re’s needs, according to Chief Executive Officer (CEO), Trevor Carvey.

U.S. primary carrier Farmers Insurance Group has announced that initial estimates point to an expected loss of $600 million for the Los Angeles wildfires, net of its per-occurrence reinsurance coverage and gross of tax, and a roughly $250 million reinstatement premium payment.