Spain headquartered global reinsurance company Mapfre Re has entered the catastrophe bond market for the first time, with a target to secure $100 million in annual aggregate US named storm retrocession from the capital markets with its debut Recoletos Re DAC (Series 2024-1) issuance, Artemis has learned.
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A new roughly US $4 million private catastrophe bond has been issued, Artex Axcell Re (Series FE0001), and the notes of the issuance are denominated in Japanese Yen, suggesting it covers catastrophe perils in that country and likely provides a capital markets backed source of reinsurance to an unknown Japanese sponsor.
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Making adjustments to the exposure of insurance-linked securities (ILS) portfolios based on inputs gleaned from the early July hurricane season forecast can drive opportunities to generate excess returns in reinsurance, according to a study from Euler ILS Partners and Tropical Storm Risk (TSR).
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Fidelis Insurance is back in the catastrophe bond market and seeking to sponsor what will be its sixth Herbie Re catastrophe bond, with a target to secure its largest issuance yet as the Herbie Re Ltd. (Series 2024-2) transaction targets more than $300 million in retrocessional reinsurance for the company.
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COP 29, the United Nations Climate Change Conference held in Baku, Azerbaijan, has drawn to a close with agreement on certain areas and progress being made on the much-discussed Loss and Damage, as well as the Global Shield, two programs of some relevance to insurance, reinsurance and insurance-linked securities (ILS) markets.
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Pension investment firm PGGM, allocating on behalf of end-client the Dutch pension fund PFZW, subscribed for an additional $175 million of shares in its RenaissanceRe managed joint-venture rated reinsurance underwriting vehicle Vermeer Re during the third-quarter of 2024.
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According to sources, the price guidance for the debut Maschpark Re Ltd. (Series 2024-1) catastrophe bond issuance for sponsor Talanx has been narrowed towards the lower-half of the initial range that had been offered.
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Here are the ten most popular news articles, week ending November 24th 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.
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Given the amount of capital in the global reinsurance system, analysts at Morgan Stanley are asking how much lower pricing could decline in the property catastrophe line of business?
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American Coastal Insurance Company is back in the catastrophe bond market and seeking $100 million or more in Florida named storm reinsurance protection from the issuance of a new Armor Re II Ltd. (Series 2024-2) transaction, Artemis has learned.
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According to Hilary Paul, Partner and Portfolio Manager, LGT ILS Partners, there will be further insurance-linked securities (ILS) M&A consolidation in the near term, with more transactions and join-venture agreements, especially as stand-alone managers increasingly seek economies of scale and access to rated paper.
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Investors in the CATCo Reinsurance Opportunities Fund, the stock exchange listed retrocessional reinsurance strategy operated by Markel CATCo, are getting closer still to unlocking the remaining trapped investment collateral, as a partial share redemption completes and the fund nears its run-off.
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US insurer Allstate has confirmed its pre-tax loss from hurricane Milton at $102 million, at which level it seems possible the Sanders Re II Ltd. (Series 2024-2) catastrophe bond may face a loss, while the companies year-to-date pre-tax catastrophe losses have reached $4.84 billion after October.
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With the insurance-linked securities market continuing its expansion, the secondary market is becoming more liquid, enabling ILS managers to adopt more dynamic allocation strategies while offering improved access to capital at the portfolio level, as per a note by François Divet, Head of ILS at AXA Investment Managers.
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