Roll-out has begun for a long-awaited excess rainfall parametric insurance product from the Caribbean Catastrophe Risk Insurance Facility (CCRIF), the catastrophe risk pooling facility who provide parametric based disaster insurance cover to Caribbean countries. The product has been in development for a number of years but the CCRIF is now in discussion with the donors […]

The issuance market for catastrophe bonds continues to look more active as another new deal came to market in the shape of another transaction for Florida Citizens with Everglades Re Ltd. (Series 2013-1). As always, you can read every market news story and article on the Artemis news blog, subscribe to our weekly email newsletter […]

One of the hot topics at last week’s SIFMA Insurance-and-Risk-Linked Securities (IRLS) conference in New York was the increasing competition that ILS and third-party investor sources of reinsurance capacity are posing to traditional reinsurers. Some opinions suggest that ILS and investor-backed collateralized reinsurance capacity is moving beyond being purely complementary coverage and is becoming ever […]

Sponsors of and investors in catastrophe bonds will be pleased to read the recently published paper which looks at the modelled expected loss figures of new cat bond issuances and concludes that the numbers derived at issue are very close to the actual loss experience of the cat bond market. The paper from consulting firm […]

On Wednesday we covered the new catastrophe bond transaction which has come to market on behalf of Florida’s Citizens Property Insurance, the state backed property insurer of last resort. Citizens second cat bond issuance, after its successful and record-sized 2012 issuance, Everglades Re Ltd. (Series 2013-1) sees the insurer seeking to expand the amount of […]

Globally the risks posed by and impacts created by droughts and heatwaves have been growing in recent years, yet drought itself remains a widely underestimated natural hazard, according to a recent report published by the worlds largest reinsurer Munich Re. According to Munich Re’s report, there have been around ten loss-producing droughts around the world […]

A third ILS fund has been unveiled to us by London based insurance-linked securities and reinsurance-linked investment manager Leadenhall Capital Partners today. Leadenhall Capital has been experiencing strong growth of its assets under management and identified an opportunity to launch a third fund, but this time focusing on life insurance linked investments to provide a new […]

As expected Florida’s Citizens Property Insurance, the state backed property insurer of last resort, is bringing its second catastrophe bond issuance to market with a new Series 2013-1 tranche from its Everglades Re Ltd. special purpose insurer. Florida Citizens had been planning to increase its spend on private market risk transfer and reinsurance this year, […]