Catastrophe bonds and insurance-linked securities news

Investment giant Blackstone has successfully secured its targeted $250 million of multi-peril, named storm and earthquake, and indemnity based catastrophe insurance protection for its real estate funds, through the new Wrigley Re Ltd. (Series 2023-1) cat bond transaction.

Elementum Advisors, LLC, the insurance and reinsurance linked asset manager, has raised additional capital in advance of the middle of the year, with its overall assets under management reaching the $4 billion mark again at June 30th.

GAM Holding AG, the parent company to global asset manager GAM Investments and home to perhaps the largest catastrophe bond fund strategy in the world, has now received a counter-offer to its impending acquisition deal with Liontrust, as an investor group has offered to buy its shares at a 29.1% premium to that arrangement.

Cyber insurance-linked securities (ILS) will be “pivotal” to the future development and health of the cyber insurance and reinsurance market, according to comments from specialist insurance-linked securities (ILS) investment manager Fermat Capital Management today.

One of the key themes to come out of renewals over the last year is a realignment of risk sharing in natural catastrophe risks between the reinsurance market, including ILS funds and alternative capital, and the primary insurers, which positions the reinsurance side to better be able to demonstrate the profit-potential of their businesses this […]

Coastal property managing general underwriter SageSure has now secured its latest slice of capital markets backed reinsurance, as the new $50 million Gateway Re Ltd. (Series 2023-3) catastrophe bond issuance has been priced roughly 7% below the mid-point of the initial spread guidance range.

Reflecting very strong market activity in the first-half, catastrophe bond funds in the UCITS format saw their combined assets under management (AUM) rise by over 18%, to reach a new record-high of nearly $10.4 billion by the end of June 2023.

Yesterday’s Artemis ILS Asia 2023 conference marked our first in-person return to Singapore and the Asian region since 2019 and while there are marked differences in the conversation surrounding insurance-linked securities (ILS) and the use of reinsurance capital, it is clear the region remains relatively untapped, on both an investment and risk basis.

Investment giant Blackstone is aiming to secure its latest and second catastrophe bond priced at the low-end of guidance, seeking as the company aims to seal the capital markets provision of $250 million of multi-peril and indemnity based catastrophe insurance protection through the Wrigley Re Ltd. (Series 2023-1) transaction.

In a new report, insurance focused investment manager Conning raises a valid point, that a nascent cyber insurance-linked securities (ILS) market may be based on fragile investor confidence, so the occurrence of a major cyber catastrophe loss could deter them before the market even has a chance to mature.