Catastrophe bonds and insurance-linked securities news

Slide Insurance Company is back in the catastrophe bond market for what will be its third time, seeking what could be its largest issuance as it targets $150 million in named storm reinsurance through this Purple Re Ltd. (Series 2024-1) transaction.

Brookfield Corporation, a Canadian multinational that is one of the largest alternative investment management companies, is looking to the catastrophe bond market and sponsoring a $100 million Aragonite Re Ltd. (Series 2024-1) deal, to provide named storm and earthquake insurance protection for its portfolios of property investments.

The U.S. National Hurricane Center (NHC) has delivered its final tropical cyclone report for 2023’s hurricane Otis, putting the minimum central pressure of the storm at 922mb and 929mb at landfall on the Mexican coast, which we’re told still suggests the $125 million IBRD / FONDEN 2020 Class D tranche of catastrophe bond notes face […]

The North Carolina Insurance Underwriting Association (NCIUA) is looking to significantly upsize its latest catastrophe bond transaction, with now $450 million of named storm reinsurance sought from the Cape Lookout Re Ltd. (Series 2024-1) issuance, Artemis has learned.

Another first-time catastrophe bond sponsor has come to market, as Texas headquartered Allied Trust Insurance Company looks to secure $100 million in fully-collateralized named storm reinsurance protection from the capital markets through this Sabine Re Ltd. (Series 2024-1) issuance, Artemis has learned.

The nascent cyber catastrophe bond and insurance-linked securities (ILS) market must grow to support the need for cyber insurance coverage, as traditional reinsurance risk tolerances are reached and the capital markets provides the perfect alternative, speakers at our recent ILS NYC 2024 conference explained.

See updates in this article for the latest outlook for the quarter. Catastrophe bond issuance recorded by Artemis so far in 2024 has already surpassed $2.8 billion and when we include all the remaining cat bonds that are still being marketed and are scheduled to settle before the end of March, the first-quarter 2024 total […]

As per analysis from broker Acrisure Re, the 2023 catastrophe bond issuance season helped to demonstrate the role that the market’s resilience played in stabilising the global reinsurance landscape.

MS&AD Insurance Group Holdings is back in the catastrophe bond market and seeking a $175 million or bigger multi-year source of multi-peril Japanese catastrophe reinsurance protection for its two main Japanese insurance carriers, through a Tomoni Re Pte Ltd. (Series 2024-1) issuance, Artemis has learned.

Commenting this morning alongside his firm’s results announcement, Beazley Chief Executive Officer (CEO) Adrian Cox said that a “deep pool of capital” is required to support growing demand for cyber insurance, while the company’s CUO Bob Quane noted that the capital markets are now stepping up in support.