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Trading activity in the secondary market for catastrophe bonds has declined in the first-quarter of 2017, compared to the prior year, as primary cat bond issuance accelerated to a new record and investors focused their efforts on new deals, according to Aon Securities.

U.S. insurer Nationwide Mutual is returning to the catastrophe bond market for the first time in almost three years, as it seeks to sponsor a $225m Caelus Re IV Ltd. (Series 2016-1) U.S. multi-peril cat bond to secure collateralised capital markets backed reinsurance capacity.

U.S. mutual insurer Nationwide Mutual’s second catastrophe bond issuance of the year settled on Thursday of last week. The transaction, Caelus Re 2013 Ltd. (Series 2013-2), grew in size by 42% during marketing of the deal to settle at $320m, bringing the total reinsurance protection that the insurer has secured via cat bond sales this […]

The second Caelus Re 2013 catastrophe bond issuance from U.S. insurer Nationwide Mutual has grown in size to $320m before close, according to our sources. The transaction, Caelus Re 2013 Ltd. (Series 2013-2), has been marketed quickly for Nationwide Mutual, having only first come to light a week ago. The transaction is very similar to […]

U.S. insurer Nationwide Mutual’s Caelus Re 2013-1 catastrophe bond has only just come to market this month yet the insurer is returning to the cat bond market already for a Caelus Re 2013 Ltd. (Series 2013-2) issuance. The recent Caelus Re 2013-1 was extremely well received by investors, which helped it increase in size and the pricing on […]

U.S. insurer Nationwide Mutual’s latest catastrophe bond, Caelus Re 2013 Ltd., has now completed successfully, received its final rating from Standard & Poor’s and the notes and five-year shelf programme have been admitted for listing on the Cayman Islands Stock Exchange. It’s only the third cat bond or ILS deal we’ve seen complete and have added […]

The Caelus Re 2013 Ltd. catastrophe bond which has been doing the rounds of the ILS investment market for the last week or so has been so well received that its pricing has dropped for the second time, finishing at a coupon level of just 5.25% above the collateral investment yield. This cat bond has […]

Reflecting investors high demand for insurance-linked securities, catastrophe bonds and reinsurance-linked investments, the first natural peril catastrophe bond to be broadly marketed this year looks set to increase in size and reduce in pricing as a response. The cat bond, Caelus Re 2013 Ltd., which is being marketed on behalf of sponsor Nationwide Mutual has […]

The primary issuance market for catastrophe bond transactions is waking up after an unusually quiet start to 2013 as U.S. P&C insurer Nationwide Mutual looks to return to the catastrophe bond market with its third cat bond, Caelus Re 2013 Ltd. Nationwide Mutual’s Caelus Re II cat bond matures in May and the insurer clearly […]

The rate of catastrophe bond maturities has picked up with five transactions maturing in the last few days and another two due to mature before the end of the month. With close to $2.4 billion of cat bonds due to mature by the end of this quarter there is plenty of excess capital which is […]