Catastrophe bonds and insurance-linked securities news

This video features the first keynote speech and Q&A of the day at our Artemis London 2023 catastrophe bond and insurance-linked securities (ILS) conference, that was held in London on September 5th 2023.

Artemis has learned that the California Earthquake Authority (CEA) has upsized its coverage ambitions for its latest Ursa Re Ltd. (Series 2023-3)  catastrophe bond, with the target size now lifted to between $575 million and as much as $675 million of reinsurance protection.

Hamilton, the Bermuda based insurance and reinsurance holding company, is back in the catastrophe bond market with its second ever issuance, seeking $150 million or more in collateralized multi-peril retrocessional reinsurance from an Easton Re Ltd. (Series 2024-1) transaction.

Selective Insurance, the US property and casualty insurer, appears set to upsize its debut catastrophe bond issuance by at least 50%, with the target increased from $200 million to now up to $325 million in reinsurance being sought from the High Point Re Ltd. (Series 2023-1) deal.

We’ve learned that the debut Taranis Reinsurance DAC 2023 catastrophe bond issuance for Crédit Agricole subsidiary insurer Pacifica, has now been priced and the transaction will secure the company €160 million of collateralized European focused catastrophe reinsurance.

With AXIS Capital’s landmark $75 million Long Walk Reinsurance Ltd. (Series 2024-1) 144A cyber catastrophe bond issuance having closed this week, CFO Peter Vogt told Artemis that this opens up a new strategic capital source, that can support AXIS’ continued growth in cyber underwriting.

Insurance-linked securities (ILS) are a stand-out asset class within the private assets segment, according to Nils Rode, Chief Investment Officer, Private Assets, Schroders Capital, who said yesterday that the ILS investment environment remains one of the best ever.

Artemis has learned that a third full 144A cyber catastrophe bond is now in the market and this latest issuance is being sponsored by international insurance giant Chubb, as the company returns to the cat bond market for the first time since 2015, seeking $100 million or more in cyber reinsurance protection from an East […]

Rating agency AM Best is maintaining its stable outlook for the global reinsurance industry, but noted that new capital remains cautious on the sector despite a growing need for more of it to flow in.

AXIS Capital saw its landmark $75 million Long Walk Reinsurance Ltd. (Series 2023-1) 144A cyber catastrophe bond settle yesterday and CFO Peter Vogt hailed the support of the insurance-linked securities (ILS) investor community.