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.


TWIA’s reinsurance & cat bond target raised to $2.1bn for 2020

The Texas Windstorm Insurance Association (TWIA) has raised its target for reinsurance and catastrophe bond coverage for this year to $2.1 billion, while at the same time the expectations for average rate-on-line have fallen slightly since December.Back in December 2019, TWIA's Board was working off a budgeted assumption that it read the full article →

Pandemic cat bond secondary price reacts as coronavirus cases rise

The secondary market indicative price for one tranche of the World Bank’s pandemic catastrophe bond transaction has now responded to the rise in cases from the novel coronavirus outbreak.As we explained previously, the novel coronavirus (2019-nCoV or Covid-19) outbreak that began in the city of Wuhan in Hubei province China read the full article →

No doubt 2020 will be a banner year for cat bonds: Klugman, Swiss Re

The catastrophe bond market can look forward to a banner year in 2020, according to Judith Klugman, Head of ILS Sales for reinsurance firm Swiss Re's Alternative Capital Partners unit.Speaking to A.M. Best TV at our recent New York insurance-linked securities (ILS) market conference, ILS NYC 2020, Klugman discussed why read the full article →

FEMA secures $400m of NFIP cat bond reinsurance at mixed pricing

The U.S. Federal Emergency Management Agency (FEMA) has now secured its upsized target of $400 million of catastrophe bond backed flood reinsurance coverage for the NFIP from its third capital markets issuance, the FloodSmart Re Ltd. (Series 2020-1) transaction.FEMA's third catastrophe bond will now provide the Agency with an investor read the full article →

Jamaica readies for first cat bond, already budgeting for its renewal

Despite the fact a catastrophe bond for Jamaica has not yet come to market, after receiving support to pay premiums for the in-development first issuance the Caribbean island nation is already preparing to budget for its future renewal.Jamaica's government has been working towards sponsoring its first catastrophe bond for at read the full article →

Mexico returns for $425m+ quake & hurricane World Bank cat bond

The government of Mexico has returned to the catastrophe bond market with the help of the World Bank and its International Bank for Reconstruction and Development (IBRD), seeking a $425 million or larger slice of parametric earthquake and hurricane disaster insurance from the capital markets through an issue we've named read the full article →

FEMA’s target for FloodSmart Re 2020 cat bond rises to $400m

The U.S. Federal Emergency Management Agency (FEMA) has lifted its target for its third catastrophe bond, with the FloodSmart Re Ltd. (Series 2020-1) transaction now seeking up to $400 million of flood reinsurance protection from the capital market for its National Flood Insurance Program (NFIP).FEMA returned to the capital markets read the full article →

Alternative capital helps Everest Re “dust off” Purple, grow retro 25%

Everest Re took advantage of market conditions around the January renewals to build a significantly larger book of retrocession business, leveraging its access to alternative reinsurance capital and use of catastrophe bonds to allow it to deploy capital into its Purple pillared retro product.Everest Re has repeatedly demonstrated an ability read the full article →

American Strategic’s Bonanza Re cat bond doubles in size at top-end pricing

The second catastrophe bond issuance to be sponsored by American Strategic Insurance Group has received a favourable response from investors, as the Bonanza Re Ltd. (Series 2020-1) transaction has doubled in size to reach $200 million.At the same time the pricing for the now $200 million of reinsurance protection that read the full article →

Mt. Logan Re AuM & cat bond assets shrank at 1/1 for Everest Re

Third-party reinsurance capital accounted for within reinsurer Everest Re's capital stack shrank at January 1st 2020, as assets under management in its Mt. Logan Re collateralized reinsurance sidecar-like vehicle shrank at year-end, while catastrophe bond maturities outweighed its renewals.Everest Re had been building an increasingly larger contribution from third-party reinsurance read the full article →