Catastrophe bonds and insurance-linked securities news

The Bermuda Stock Exchange approved the secondary listing of the 100,100,000 Ordinary Shares of Blue Capital Global Reinsurance Fund Limited to their exchange on 6th December. The primary listing for the shares is on the London Stock Exchange’s Specialist Fund Market, as we wrote last week. The shares represent the first offering from Bermuda reinsurer […]

The Cayman Islands has new legislation in place which it hopes will help it to grow its share of the global catastrophe bond and reinsurance market. Two new classes of reinsurer have been created, and amendments made to the Cayman’s immigration policies, as it seeks to attract more of the new capital entering the reinsurance […]

The slow recovery of many secondary market catastrophe bond prices continues in the wake of hurricane Sandy. Most of the impacted bonds which are now understood to be safe have recovered the mark-to-market losses they had seen, a number of others remain priced below par as their fate is still uncertain. Other cat bonds continue […]

American International Group, Inc., AIG for short, announced their first estimate of the losses they will suffer from hurricane Sandy claims late on Friday. The insurer waited until after the stock markets had closed before making the announcement, perhaps a sensible move given the size of their first estimate. AIG’s preliminary estimate is for a […]

Insurance group Zurich is returning to the catastrophe bond market with the third deal in the Lakeside cat bond series. Lakeside Re III Ltd. see’s Zurich looking to replace and also expand the cover that their last cat bond Lakeside Re II, which matures at the end of 2012, provided. Once completed Lakeside Re III will […]

As we move towards the end of the year and the ever important January reinsurance renewals, it’s no surprise to see a new reinsurance-linked investment fund launch or for more cat bonds to come to market. As always, you can read every market news story and article on the Artemis news blog, subscribe to our […]

According to sources, Towers Watson Capital Markets (TWCM) are in the process of marketing and placing another private catastrophe bond transaction on behalf of a U.S. primary insurer. The private placement is looking to secure at least $50m of multi-peril cover for the sponsor, with covered perils being New Madrid earthquake, severe thunderstorms and tornadoes. […]

The ongoing struggle to estimate losses from hurricane Sandy continues to cause consternation among insurers and reinsurers. The complex and unprecedented nature of the storm means assessment has been difficult, particularly claims resulting from business interruption, infrastructure damage and flood claims. It’s hard to assess how much of an impact they will have on the […]

Bermuda headquartered global insurer and reinsurer XL Group has announced a new senior hire into their reinsurance operations today. Craig Wenzel will join XL in a newly created Senior Vice President, Capital Markets role. In this role Wenzel will be responsible for growing XL’s relationships with third-party capital providers in support of XL’s global underwriting […]

Arthur J. Gallagher & Co., one of the larger insurance brokerage firms in the world, has acquired a team with capabilities in the capital markets and convergence sector through buying London-based reinsurance broker Execution Re. Execution Re is part of the Execution Noble group of companies and was owned by Portuguese investment bank Espirito Santo.