We’ve learned that, now for the second time, NN Group’s new Orange Capital Re DAC (Series 2024-1) catastrophe bond issuance has seen its price guidance range fall, with the company looking set for strong execution of its latest cat bond deal.
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A selective approach and a deep understanding of climate-related risks are key to managing insurance-linked securities (ILS) investments, according to a note by François Divet, Head of ILS at AXA Investment Managers.
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We’ve learned of another private catastrophe bond transaction brought to market through the Artex Capital Solutions managed Eclipse Re Ltd. vehicle, with a $5 million Eclipse Re Ltd. (Series 2024-8A) now the eighth private or cat bond lite issuance from this structure in 2024 so far.
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GAREAT, a co-reinsurance pool created for the ceding of compulsory terrorism insurance cover provided in France, has entered the catastrophe bond market for the first time, seeking €100 million or more in terrorism reinsurance from the capital markets from an Athéna I Reinsurance DAC issuance, Artemis can report.
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While the Asia region is expected to see steadily increasing activity in catastrophe bonds and other insurance-linked securities (ILS), Fitch Ratings believes the participation of regional investors needs to increase, while continued development of regulatory frameworks and local expertise is also required.
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Impacts from the severe flooding experienced across parts of Central Europe in September 2024 are estimated to have driven an insurance industry loss estimate of close to €1.9 billion by catastrophe data aggregator PERILS.
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Here are the ten most popular news articles, week ending November 3rd 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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The insurance and reinsurance businesses of Warren Buffett’s Berkshire Hathaway suffered from hurricane losses in the third-quarter with Helene and are expecting up to $1.5 billion of additional losses from hurricane Milton in the fourth-quarter.
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Already in 2024, the dollar amount of new Rule 144A property catastrophe bonds issued and settled has reached the second-highest level on record, with almost $12.8 billion in completed property cat bond deals tracked in the Artemis Deal Directory so far this year.
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According to the administrators of the Florida Hurricane Catastrophe Fund (FHCF), losses to the fund that provides a reinsurance-like reimbursement for a portion of residential property insurers’ hurricane losses from recent hurricanes Helene and Milton are expected to fall between $1.6 billion and as much as $6.2 billion.
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Everest Group’s CEO Juan Andrade said yesterday that his company is anticipating a firming of property catastrophe reinsurance rates in North America and Europe at the 1/1 January 2025 renewals, given the recent catastrophe loss activity experiences.
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We’ve learned that insurer USAA is aiming to upsize its latest catastrophe bond to provide $450 million of occurrence reinsurance protection, up from the initial $325 million target, while at the same time the price guidance for notes from this new Residential Reinsurance 2024 Limited (Series 2024-2) deal has tumbled.
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With the peak of the Atlantic hurricane season now passed the risk of this peril inflicting major losses on the catastrophe bond market has diminished somewhat and, with spreads remaining at attractive levels, fund manager Icosa Investments has highlighted an attractive entry point to cat bonds.
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The Natural Disaster Fund (NDF), a public-private partnership funded by UK and German governmental entities and managed by Global Parametrics, part of the CelsiusPro Group, was the lead provider of risk capacity to the recently placed parametric Sahel Climate Catastrophe Layer that supports the UN World Food Programme (WFP).
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