Catastrophe bonds and insurance-linked securities news

Standard & Poor’s has assigned its ‘BBB+ (sf)’ issue credit rating to the $9 million principal-at-risk variable-rate notes issued by Horseshoe Re II Ltd. segregated accounts LC1100 and LC2100, which are the notes from the private cat bonds issued for ILS fund manager Leadenhall Capital Partners.

The growth of the ILS market has been leveling out in 2016 with slower, more incremental increase in capital seen, which is a reflection of a healthy market that manages its capital inflows and seeks to match them to deployment opportunities, according to ILS experts.

Demand for customised risk transfer solutions are increasing within the reinsurance marketplace, according to reinsurance giant Swiss Re. The trend could result in large reinsurers coming under pressure from influential ILS fund managers, as they look to utilise the specialities and features common in the ILS sector.

Jardine Lloyd Thompson Capital Markets (JLTCM) ILS structuring and issuance team has successfully closed the ground-breaking temperature-linked weather catastrophe bond Market Re Ltd. (Series 2016-5), securing $30.75m of coverage against European winter temperature extremes for the sponsor.

Provider of industry-wide catastrophe exposure, industry loss data and indices, PERILS AG, has announced its expansion outside of Europe for the first time, extending its market coverage to include a range of Australian risks.

The largest insurance-linked securities (ILS) fund managers are actively raising capital at this time, which increasingly will be diverted to collateralised reinsurance as focus on that product grows, according to broker Aon Benfield.

In the latest in our series of interviews with figures from the risk transfer and insurance-linked securities (ILS) and reinsurance markets, at Monte Carlo Reinsurance Rendezvous 2016, Artemis spoke with Bill Dubinsky, Managing Director & Head of ILS at Willis Capital Markets & Advisory (WCMA).

London headquartered insurance and reinsurance linked securities investment manager Leadenhall Capital Partners has achieved an investment grade rating for two private catastrophe bonds.

Despite the fact that qualifying losses have further eroded the aggregate retention layer beneath the trigger point of the Gator Re Ltd. catastrophe bond transaction, the latest secondary market trading price has risen this week.

A catastrophe swap software platform based on the blockchain is ready for use, according to the developer of the technology which featured in the pilot catastrophe swap undertaken between Allianz and Nephila Capital recently, Symbiont.