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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Replexus launched as ILS securitisation facilitator by Cedric Edmonds

A new insurance-linked securities (ILS) risk securitisation facilitator and risk transfer consultancy named Replexus Group has been launched by Cedric Edmonds, formerly at Swiss ILS manager Solidum Partners.Edmonds left Solidum in recent months, returning to the United Kingdom to launch a new venture.During his time at Solidum Partners, Edmonds had read the full article →

TWIA’s new Alamo Re II cat bond another to shift to Singapore in 2020

The Texas Windstorm Insurance Association's (TWIA) new catastrophe bond is the latest issuance to have shifted domicile to Singapore, with the special purpose reinsurance vehicle used for the transaction being named Alamo Re II Pte. Ltd.The transaction was launched to the cat bond investment community this week, but we were read the full article →

Cat bond activity could surpass expectations in H2 2020: Schultz, Aon Securities

Although the Covid-19 pandemic has undoubtedly stunted primary catastrophe bond issuance, for the most part, deals will get done and it’s possible that activity in the second-half of the year exceeds expectations, according to Paul Schultz, Chief Executive Officer (CEO) of Aon Securities.As part of our series of video interviews read the full article →

Allstate reports $632m of catastrophe losses from April 2020

U.S. primary insurance giant Allstate has reported $632 million pre-tax of catastrophe losses from April 2020, largely driven by severe convective storms and severe weather events.It's a heavy start to the year for the annual aggregation of losses against Allstate's reinsurance provided by its Sanders Re catastrophe bonds.The annual risk read the full article →

Avatar returns with $65m Casablanca Re cat bond issued from Singapore

Florida focused insurer Avatar Property and Casualty Insurance Company has returned to the catastrophe bond market for what will be its second ever issuance, with a currently $65 million Casablanca Re Pte. Ltd. (Series 2020-1) transaction to provide named storm reinsurance protection.The Casablanca Re Pte. Ltd. (Series 2020-1) catastrophe bond read the full article →

Allstate’s Sanders Re II cat bond upsized by one-third to $200m

U.S. primary insurance giant Allstate has successfully increased the size of its new catastrophe bond transaction by one-third, with the Sanders Re II Ltd. (Series 2020-2) cat bond deal now featuring $200 million of notes.The successful upsizing of the issuance came after pricing guidance was lifted to the top-end of read the full article →

Florida Citizens’ Personal Lines Account cat bond upsized to $110m

Florida’s Citizens Property Insurance Corporation has opted to slightly upsize its remaining Personal Lines Account tranche of its new catastrophe bond issue, with the Everglades Re II Ltd. (Series 2020-2) deal growing by 10% to $110 million by pricing.Having withdrawn the larger $200 million layer of Coastal Account linked catastrophe read the full article →

TWIA’s $200m Alamo Re II catastrophe bond launches to investors

The awaited new catastrophe bond issuance from the Texas Windstorm Insurance Association (TWIA) has now been launched to the cat bond investment community, with a $200 million target for the Alamo Re II Ltd. (Series 2020-1) transaction.As we'd explained recently, TWIA was always set to return to the catastrophe bond read the full article →

Irrational pricing drove Florida Citizens to pull cat bond layer: CFO Montero

Florida’s Citizens Property Insurance Corporation withdrew one layer of its latest issuance from the catastrophe bond market at the mid-year renewal, as it found that capital market investors are looking for "irrational returns" and wasn't willing to lock in pricing over a multi-year basis at those rates, CFO Jennifer Montero read the full article →

Covid-19 pandemic “showcased” value of cat bonds to investors: S&P

Catastrophe bonds are expected to face increasing investor demand over the coming months, as during the Covid-19 pandemic these instruments have "showcased" their benefits to global investors once again, according to S&P Global Ratings.Prime among the features of catastrophe bonds that have been showcased, is once again the relatively uncorrelated read the full article →