Catastrophe bonds and insurance-linked securities news

The latest catastrophe bond news from Artemis. Covering the intersection of reinsurance and risk capital markets. A chronological archive of all of our cat bond news stories. For the latest news and full coverage visit the homepage.

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AXA XL settles for $475m Galileo Re 2019-1 catastrophe bond

AXA XL, the global specialty insurance and reinsurance unit of the AXA Group, will settle its latest catastrophe bond Galileo Re Ltd. (Series 2019-1) at $475 million in size, as the company fixes pricing and allocations for its latest capital markets backed reinsurance transaction.The transaction is significantly smaller than it read the full article →

Everest Re gets $850m cover from new Kilimanjaro Re catastrophe bonds

Everest Re has now secured an $850 million slice of retrocessional reinsurance protection from the capital markets with its latest dual issuance of two series of notes from its Kilimanjaro Re Ltd. cat bond issuance vehicle.Everest Re returned to the cat bond market in November with its first issuance since read the full article →

Reinsurers glory days are over, as dependence on ILS increases: A.M. Best

Global reinsurance market conditions are said to be improving by rating agency A.M. Best, who maintains a stable outlook on the sector, but sees traditional reinsurance capital becoming increasingly dependent on third-party sources of capacity and ILS.Insurance-linked securities (ILS) and third-party reinsurance capital are becoming increasingly important to traditional reinsurers read the full article →

ARC focusing on multi-hazard index for climate cat bond facility XCF

The African Risk Capacity (ARC) continues to work towards the implementation of its climate catastrophe bond backed Extreme Climate Facility (XCF), focusing on the development of a robust multi-hazard index that can be used to trigger the instruments.The Extreme Climate Facility (XCF) is a proposed multi-year funding mechanism which will read the full article →

Everest Re aims for up to $800m from Kilimanjaro III Re cat bonds

Global insurance and reinsurance firm Everest Re has lifted its targets for its latest catastrophe bond issuances, with the company now hoping to secure between $500 million and $800 million of retrocessional reinsurance from the Kilimanjaro Re III transactions.At the same time as lifting the target for the cat bonds, read the full article →

Climate change adaptation financing can benefit from partnership with ILS

Climate change adaptation projects and the need for them are rising up the agenda, as a recent surge in damages from severe weather and climate related catastrophe events concentrates the mind on the importance of investing in this area.Public authorities are showing renewed and increasing interest in climate adaptation, while read the full article →

Gap between best & worst performing ILS fund nears 10% in October

The broad diversity within the insurance-linked securities (ILS) fund market became very apparent in October 2019, as the impacts of catastrophe losses from Hagibis drove the gap between best and worst performing ILS fund to almost 10%.It's one of the highest figures we've seen in our almost two decades tracking read the full article →

USAA recovers another $62.6m from Residential Re cat bonds

U.S. primary mutual insurer USAA continues to make reinsurance recoveries under its Residential Re catastrophe bond program, with the latest loss payments to come to light amounting to almost $62.6 million.USAA's Residential Reinsurance catastrophe bonds were exposed to a range of catastrophe loss events over the course of 2017 and read the full article →

Hagibis hammers some private ILS positions in October

It's becoming clear that typhoon Hagibis' impacts in Japan have hammered the performance of some private insurance-linked securities (ILS) positions in October and this could be sufficient to overshadow what has been another positive month for the catastrophe bond market.While typhoon Hagibis did dent some catastrophe bond positions, with a read the full article →

Red Cross’ volcano cat bond targets multi-continent coverage from Q1 issue

Over 800 million people live within 100km of an active volcano around the world. To prepare for a potential eruption, the Danish Red Cross and International Federation of Red Cross and Crescent Societies, alongside industry partners, are planning a catastrophe bond to cover risks associated with 10 volcanoes in 4 read the full article →