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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Travelers adjusts Long Point Re III cat bond, renews cat treaties at July 1st

U.S. primary insurance carrier Travelers has adjusted the attachment point for its $500 million Long Point Re III Ltd. (Series 2018-1) catastrophe bond transaction upwards slightly for the coming year, while also renewing a range of important property catastrophe excess-of-loss reinsurance treaties at July 1st. At the annual reset, Travelers has read the full article →

Eclipse Re issues two private cat bonds totalling $56.6m

Eclipse Re Ltd., the Horseshoe managed private syndicated collateralised reinsurance note and private cat bond platform, has completed two new transactions, amounting to just under $56.6 million of risk capital issued around the mid-year renewal season. Eclipse Re Ltd. is a Bermuda domiciled special purpose insurer (SPI) and segregated account company read the full article →

Bermuda SPI guidance update clarifies collateral rollover, release & clawback positions

An update to the Bermuda Monetary Authority's (BMA) guidance notes on special purpose insurers (SPI's), the most commonly used structure for transacting insurance-linked securities (ILS) and collateralised reinsurance, lays out the regulators position on key issues related to collateral rollover, release of collateral and also the subject of clawback. The 2020 read the full article →

UnipolSai showed commitment to ILS with Azzurro Re II cat bond: Willis Re

Italian primary insurance company UnipolSai Assicurazioni S.p.A. demonstrated a long-lasting commitment to engaging with the insurance-linked securities (ILS) market with its recently completed EUR 100 million Azzurro Re II DAC (Series 2020-1) catastrophe bond, according to executives at Willis Re. With the successful placement of the Azzurro Re II DAC cat read the full article →

ILS has shown “remarkable” resilience: Monetary Authority of Singapore

Even in the face of Covid-19, the resilience of the insurance-linked securities (ILS) market has been impressive, but moving forward, the entire risk transfer industry needs to be more attentive to emerging complex risks, says Benny Chey, Assistant Managing Director (Development and International), Monetary Authority of Singapore (MAS). In his opening read the full article →

ILS altered how reinsurers structure their operations: Lane, ILS Asia 2020

The alternative, or third-party reinsurance capital market, has permanently altered the structure of reinsurers and will continue to do so moving forward, according to Dr. Morton Lane, President, Lane Financial LLC, and Director, The University of Illinois in Urbana-Champaign. During the penultimate day of the virtual Artemis ILS Asia 2020 conference, read the full article →

Capital markets could fund $2bn of pandemic bonds: Hannover Re CEO Henchoz

The participation of the capital markets in financing the world's most pressing risks is an important source of capacity and investors could support up to $2 billion of capacity to back pandemic catastrophe bonds, Hannover Re CEO Jean-Jacques Henchoz explained in a recent interview. Speaking to Swiss, German-language newspaper Neue Zürcher read the full article →

Catastrophe bond & ILS issuance hits $9.6bn as spreads accelerate

Issuance of new catastrophe bonds continued apace through early July, helping total cat bond and related ILS issuance reach $9.6 billion as of this time, according to Artemis’ Deal Directory data. While the demand from investors for higher-returns is increasingly evident, as both spreads and multiples-at-market accelerated over recent weeks. Investor read the full article →

Cat bonds a bright spot, as collateralised reinsurance trapped again: Aon

Catastrophe bond issuance in the first-half of 2020 has been one of the bright spots in the insurance-linked securities (ILS) and alternative reinsurance capital market, as issuance was buoyed by the assets robust performance through the Covid-19 pandemic. In discussing the dynamics around alternative capital, insurance and reinsurance broker Aon said read the full article →

Twelve Capital to offer its growing UCITS cat bond fund in Aus & NZ

Twelve Capital, the Zurich headquartered insurance and reinsurance linked investment fund manager, is to expand its offering to investors in Australia and New Zealand to include its UCITS catastrophe bond fund, which is a strategy the manager has been successfully growing recently. Back at the end of January, Twelve Capital reported read the full article →