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U.S. insurer Assurant Inc. has added to the current catastrophe bond pipeline by beginning to market its second Ibis Re cat bond transaction Ibis Re II Ltd. Marketing to investors began this week and Ibis Re II is expected to close in May.

U.S. specialty insurer Assurant is on the verge of closing a $150m catastrophe bond deal under the Cayman islands based special purpose vehicle Ibis Re. The deal will be Assurants first transaction in the catastrophe bond market. The deal will protect some of Assurant’s subsidiaries (including American Security Insurance Co. and American Bankers Insurance Co.) […]

German reinsurance giant Hannover Re has reported a more than 21% rise in net income for 2019 as the performance of its life & health (L&H) reinsurance operation more than offset the impacts of losses on its property & casualty (P&C) reinsurance result.

The General Insurance Association of Japan (GIAJ) has reported that already domestic insurers in the country have paid out just under US $2.5 billion for claims from typhoon Faxai, while for more recent typhoon Hagibis the claims are still mounting up.

Catastrophe risk modelling specialist RMS has now published an estimate for the insurance and reinsurance market impact of recent Japanese typhoon Hagibis, estimating the industry losses at between $7 billion and $11 billion.

Typhoon Hagibis is estimated as likely to cause an insurance and reinsurance market loss somewhere in a range from $8 billion to as much as $16 billion, by AIR Worldwide.

Typhoon Hagibis remains on track towards Japan, with Tokyo and the surrounding area now firmly a target and the storm forecast to make landfall as a Category 1 or 2 equivalent storm on Saturday.

U.S. mutual fund manager Pioneer Investments reports that total net assets for its interval style insurance-linked securities and reinsurance linked investment fund, the Pioneer ILS Interval Fund, have grown 18% to $64.4m.

Multi-year traditional and fully-collateralized protection has grown as a percentage of the reinsurance program of U.S. specialty insurance group Assurant, as the insurer seeks to reduce its financial exposure to catastrophic losses caused by severe weather events.

Short-dated catastrophe bonds traded in the secondary market last week, as some investors continued to show an appetite to buy these bonds, likely to hold them to maturity. Also of note, the exposed Gator Re cat bond recovered some of its discount.