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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Investors supportive of first indemnity mortality cat bond: Willis Re Securities

Insurance-linked securities (ILS) and catastrophe bond investors were supportive of the first mortality bond to feature an indemnity trigger, according to Willis Re Securities who structured and placed the deal. The $100 million La Vie Re Limited (Series 2020-1) catastrophe bond was completed recently, becoming the first extreme mortality bond for read the full article →

Hurricane Zeta may move aggregate cat bond prices: Plenum

The impacts and eventual insurance market losses from hurricane Zeta's landfall on the Louisiana Gulf Coast is not expected to result in any direct losses to catastrophe bonds, but may move the price on certain aggregate cat bonds, according to Plenum Investments. Zurich-headquartered catastrophe bond and insurance-linked securities (ILS) focused investment read the full article →

Guy Carpenter’s Cerulean Re ILS platform issues $12.6m of private cat bonds

Cerulean Re SAC Ltd., the private catastrophe bond and insurance-linked securities (ILS) issuance vehicle operated by reinsurance broker Guy Carpenter and Marsh Captive Solutions, has completed another issuance and listed three tranches of Cerulean Re SAC Ltd. (Series 2020-B) notes. The Cerulean Re vehicle was launched in 2017 by Guy Carpenter’s read the full article →

USAA increases Residential Re 2020-2 cat bond target to $400m

U.S. primary mutual insurer USAA has increased its target size for its latest catastrophe bond, with the insurer now aiming to secure as much as $400 million of multi-year, fully collateralized, multi-peril catastrophe reinsurance protection from the capital markets with its new Residential Reinsurance 2020 Limited (Series 2020-2) transaction. USAA returned read the full article →

RenRe’s third-party capital business hit by large losses in Q3

Large loss events in the third-quarter of 2020 dented performance at Bermuda based reinsurance firm RenaissanceRe's third-party capital joint ventures and managed insurance-linked securities (ILS) funds, resulting in a decline in performance fees. RenaissanceRe (RenRe) had already pre-announced an expected hit to its third quarter 2020 results of operations from major read the full article →

ILS market performance through pandemic to drive public sector interest

The insurance-linked securities (ILS) market has performed admirably through the COVID-19 pandemic, demonstrating that the capital markets remained largely open for transfers of risk and that even under extreme risk scenarios ILS investors can be relied upon to support protection buyers need for risk capital. This bodes well for the future read the full article →

Securian becomes first U.S. direct life insurer to sponsor a mortality cat bond

Securian Financial recognises the capital efficiencies gained from becoming the first U.S. direct writer of life insurance to tap into the capital markets for reinsurance protection using a mortality catastrophe bond, after its $100 million La Vie Re Limited (Series 2020-1)  transaction completed. The La Vie Re mortality catastrophe bond transaction read the full article →

CEA reinsurance program hits new high at almost $9.6bn

The California Earthquake Authority’s (CEA) reinsurance program has reached a new record high in terms of size at nearly $9.6 billion, which is up almost $1 billion since the January renewals. Helping in this growth is the successful issuance of two large catastrophe bond deals in 2020 so far, the $700 read the full article →

ILS market health displayed in upsizing of CEA’s new cat bond: Swiss Re

The health of the insurance-linked securities (ILS) market and the commitment of its investors to providing efficient and fully collateralized reinsurance capacity were displayed by the successful upsizing and completion of the California Earthquake Authority's (CEA) latest catastrophe bond, according to Swiss Re Capital Markets. The CEA's recently completed Ursa Re read the full article →

Cat bond activity to pick up, issuance conditions attractive: GC’s Des Potter

Cat bonds are set to buck the trend elsewhere in the ILS market, with a strong issuance pipeline for Q4 2020 and Q1 2021. This is according to Des Potter, managing director ILS origination and structuring at GC Securities, part of Guy Carpenter, in an interview with Artemis. Encouraged by the read the full article →