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The Parkton Re cat bond issued by Swiss Re America has closed successfully. The deal which started life at $125m was upsized due to demand to $200m demonstrating again the appetite of investors to diversify investment portfolios into the insurance linked securities arena. Parkton Re, though issued by Swiss Re, is designed to provide them […]

Swiss Reinsurance America Corp. has returned to the cat bond market to issue the third deal this year involving Swiss Re. Parkton Reinsurance Ltd. is a Cayman Islands special purpose vehicle set up to issue a $125m bond on behalf of two North Carolina nonprofit insurance associations (the North Carolina Joint Underwriting Association and the […]

The North Carolina Insurance Underwriting Association (NCIUA) has successfully upsized its latest catastrophe bond transaction by 80%, securing the top-end target for $450 million of named storm reinsurance from the Cape Lookout Re Ltd. (Series 2024-1) issuance, this publication understands.

The North Carolina Insurance Underwriting Association (NCIUA) has returned to sponsor another catastrophe bond to source more named storm reinsurance protection, seeking $250 million or more in aggregate cover from a Cape Lookout Re Ltd. (Series 2024-1) transaction.

The North Carolina Insurance Underwriting Association (NCIUA) has returned to the catastrophe bond market for its first issuance of 2022, seeking $300 million or more in collateralized reinsurance protection from a Cape Lookout Re Ltd. (Series 2022-1) issuance.

The North Carolina Insurance Underwriting Association (NCIUA) is back in the catastrophe bond market with its first issuance of 2021, a currently $100 million Cape Lookout Re Ltd. (Series 2021-1) transaction that will sit in the higher layers of its reinsurance tower.

The North Carolina Insurance Underwriting Association (NCIUA) has returned to the catastrophe bond market for a second issuance in 2019, with a new $100 million Cape Lookout Re Ltd. (Series 2019-2) currently being offered to ILS investors.

The North Carolina Insurance Underwriting Association (NCIUA) is seeking capital markets support for its reinsurance program with the issuance of a $250 million Cape Lookout Re Ltd. (Series 2019-1) catastrophe bond that will be exposed to name storm and thunderstorm risks. The North Carolina Insurance Underwriting Association (NCIUA) is no stranger to the catastrophe bond […]

U.S. residual market insurers, which are often the state-backed non-profit and in extreme cases the insurer of last resort for property coverage, are increasingly relying on catastrophe bonds and the capital markets as sources of reinsurance protection.

Another catastrophe bond has settled and completed today, securing a source of hurricane reinsurance protection for the two North Carolina wind pools, the North Carolina Joint Underwriters Assn. (NCJUA) and the North Carolina Insurance Underwriters Assn. (NCIUA). The successful completion of the Tar Heel Re Ltd. (Series 2013-1) cat bond brings another $500m of risk […]