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.


Palomar seeks $300m Torrey Pines quake cat bond issued from Singapore

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has returned to the catastrophe bond market its second transaction, with a new $300 million Torrey Pines Re Pte. Ltd. (Series 2021-1) earthquake only deal that is being issued out of Singapore. Palomar had previously sponsored a read the full article →

NFIP reinsurance hits high with new $575m flood catastrophe bond

The U.S. Federal Emergency Management Agency (FEMA) continued to spread its risk with its latest visit to the catastrophe bond market, as the $575 million FloodSmart Re Ltd. (Series 2021-1)  cat bond has lifted its reinsurance program for the National Flood Insurance Program (NFIP) to a new high. FEMA returned to read the full article →

Pool Re upsizes retro to $3.5bn, but no new ILS capital included

UK government backed mutual terrorism reinsurance firm Pool Re has secured another increase in size to its retrocession program, lifting it to almost US $3.5 billion at the latest renewal, but still insurance-linked securities (ILS) capacity remains limited to its previous catastrophe bond. Pool Re placed its UK £2.475 billion (US read the full article →

Fresh ESG capital an opportunity for the ILS industry: Taylor, Ocorian

In a recent interview with Artemis, Ocorian Client Director Sherman Taylor explored how the insurance-linked securities (ILS) industry can incorporate ESG into its operations and what benefits this might bring. He expressed his optimism as he noted the total market capitalisation of new ILS issuances surpassed $15B in 2020, making it read the full article →

Alpina takes over Falcon cat bond funds, transforms them to ESG compliant

Alpina Capital, through its Alpina Fund Management S.A. unit, has taken over the management and distribution of the Falcon Private Bank catastrophe bond funds and is transforming them into ESG compliant strategies under the EU taxonomy. Alpina Capital acquired Falcon Fund Management (Luxembourg) S.A. at the end of 2020, taking over read the full article →

Hong Kong’s ILS grant scheme to cover ~US $1.6m of issuance costs

Hong Kong's Government has revealed some of the details of its proposed insurance-linked securities (ILS) grant scheme, through which it will pay a share of issuance costs for any ILS structures issued out of the Special Administrative Region. The Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of read the full article →

Winter storm Uri an aggregate threat, but commercial loss may protect ILS: Twelve Capital

Winter storm Uri is destined to become a record insurance and reinsurance market loss for a winter weather event in the United States and while the impacts may be in the double-digit billions of dollars, the ILS market may be protected from too significant a share. A number of factors could read the full article →

Persistence of third-party capital owners affirmed: AM Best

While the entry of third-party, or alternative, reinsurance capital slowed after recent heavy catastrophe years and resulting challenges they brought, those difficulties also "affirmed the persistence of third-party capital owners," rating agency AM Best has said. Third-party capital has increasingly found its routes into the reinsurance market becoming easier, more efficient read the full article →

Twelve Capital’s UCITS catastrophe bond fund passes $1bn

Twelve Capital, the Zurich headquartered insurance and reinsurance linked investment fund manager, has almost doubled the size of its flagship UCITS catastrophe bond fund in a year. At the end of January 2020, the insurance-linked securities (ILS) fund manager had reported that the Twelve Capital’s Cat Bond UCITS fund had reached read the full article →

CEA could upsize new Ursa Re II cat bond to $215m

The California Earthquake Authority (CEA) has lifted its target size for its first catastrophe bond transaction of 2021, now seeking up to $215 million of fully collateralized earthquake reinsurance protection with the Ursa Re II Ltd. (Series 2021-1)  issuance. When this latest catastrophe bond from the CEA launched to investors a read the full article →