Catastrophe bonds and insurance-linked securities news

Rating agency AM Best has explained that the expansion of named peril lists on reinsurance and retrocession arrangements at the January 2024 renewals, is not expected to make a material difference in terms of the risk covered.

Martin Hotz, Head Parametric Nat Cat, Swiss Re Corporate Solutions, has suggested there is “strong potential” for the capital markets to continue to play an important role in the parametric space.

In what might be viewed as another sign of a more balanced supply-demand dynamic in the catastrophe bond market, the latest deal from UnipolSai Assicurazioni S.p.A. has remained at €100 million in size, but the pricing for the Azzurro Re II DAC (Series 2024-1) cat bond notes has been lifted to the top-end of initial […]

For a non-correlated asset class, catastrophe bond spreads are still attractive despite recent tightening, and with interest from sponsors and investors remaining high 2024 is expected to be another record year for the market, according to Etienne Schwartz, Managing Director and Head of Investment Management, Twelve Capital.

Asset manager Schroders Capital has announced a senior hire to drive business development and evolve the product offering at the firm, hiring Ingo Heinen from Intermediate Capital Group (ICG) as its new Global Head of Business Development and Product.

PURE, a high-net worth insurance specialist unit of the Tokio Marine Group, has raised the target size of its debut catastrophe bond to $105 million, while we understand that price guidance for the Ashera Re Ltd. (Series 2024-1) notes has been lowered.

Rating agency AM Best has highlighted disciplined capital deployment as a feature of the insurance-linked securities (ILS) market in 2023, which, thanks in part to sustained strong pricing in reinsurance, experienced a record-breaking year.

Given the high levels of return on collateral in the catastrophe bond market cash has built up and the market has been expanding on the back of this, which has an effect on the supply and demand balance, which can be viewed both negatively and positively, speakers discussed at the SIFMA ILS conference in Miami […]

Having previously begun reporting an estimation it would receive up to $30 million in reinsurance recoveries from its Kilimanjaro Re catastrophe bond program, after a deal was triggered by rising industry losses from hurricane Ian, we understand global re/insurer Everest has now trimmed back its recovery expectation significantly given a reduction in the industry estimate.

The first catastrophe bond to be issued using the London Bridge 2 PCC insurance-linked securities (ILS) structure provides a valuable roadmap for Lloyd’s market participants and Lloyd’s CFO believes the market’s ILS platform offers a viable alternative to domiciles like Bermuda.