London Bridge 2 PCC Limited and its predecessor, together the Lloyd’s insurance-linked securities (ILS) platform, hit $750 million in aggregate issuance of ILS securities to investors thanks to the recent completion of Beazley’s first natural catastrophe bond, the $100 million Fuchsia 2023-1 transaction.
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Artemis has learned that Hannover Re’s key whole account catastrophe excess-of-loss retrocession renewal was completed with pricing flat on a risk-adjusted basis, as higher exposure levels for large retro towers were met with comparably higher rates, resulting in roughly flat outcomes at January 1st.
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Catastrophe bond fund strategies in the UCITS format have delivered an impressive almost 16% average return for the full-year 2023, rising every single month during the period and setting a new record for this popular segment of the cat bond fund space.
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FloodFlash, a flood risk focused insurtech company that offers an innovative sensor-based approach to parametric flood insurance, said that the current UK floods that have occurred after days of storms and heavy rainfall have seen waters rise to hit the parametric triggers for some of its policies.
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With one month still to be counted, the Eurekahedge ILS Advisers Index has already set a new record high annual return in 2023, as the average return of the insurance-linked securities (ILS) funds tracked rose to 13.33% after November.
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Here are the ten most popular news articles, week ending January 7th 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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Icosa Investments has been launched as new catastrophe bond focused asset manager, by co-founders the former Twelve Capital executive Florian Steiger and Swiss financial services and capital markets specialist Jordan Nickerson, Artemis has learned.
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A second modelled insurance industry loss estimate for the damaging earthquake that struck Japan on New Year’s day has now been released, with CoreLogic saying it believes the total will be below $5 billion.
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Investors in reinsurance sidecar structures have been “handsomely rewarded” for their commitment to the product in 2023, broker Aon has said, as these reinsurance-linked investments have experienced strong returns of above 30% in some cases.
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Insurance industry losses from the January 1st magnitude 7.5 earthquake that struck the Noto peninsula on Japan’s west coast could reach $6.4 billion, with residential property seen as the major contributor, according to risk modelling firm Karen Clark & Company (KCC).
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The total-return of the outstanding catastrophe bond market in 2023 reached a record level of 19.69%, according to full-year data from the Swiss Re Cat Bond Performance Indices.
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The damaging magnitude 7.5 earthquake that struck Japan’s Ishikawa prefecture on the west coast of the main island of Honshu on New Year’s Day could affect the April reinsurance renewal outcome for Japanese insurers, if the excess layers of reinsurance programs are impacted, rating agency AM Best has said.
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The government of the Philippines has launched a pilot indemnity insurance arrangement to cover government assets totalling almost US $14.4 billion, but in another signal that the country may not return to the catastrophe bond market again anytime soon, it has used an excess payout from its matured cat bond to fund the new insurance […]
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FEMA has renewed the National Flood Insurance Program’s (NFIP) traditional reinsurance tower at a larger $619.5 million in size for 2024, a 23% increase on the prior year’s placement.
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