The recent April reinsurance renewals season has provided further details on 2022 pricing trends and reinsurers’ catastrophe risk exposure profile, which has led Moody’s to believe that property catastrophe reinsurance pricing still has room to go higher.
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The catastrophe bond market is seeing spreads widen for practically all new issuances, with market sources telling us about a mismatch, on multiple counts, that has the effect of driving prices higher, and is also sending broader signals on the potential trajectory for catastrophe reinsurance rates at the mid-year renewals.
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The latest catastrophe bond for long-standing sponsor USAA has seen its riskiest tranche of notes pulled from the issuance, while the pricing for the other four tranches of notes of the $375 million targeted Residential Reinsurance 2022 Limited (Series 2022-1) deal have all risen.
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The first catastrophe bond to be sponsored by coastal property insurance underwriter SURE, or the SureChoice Underwriters Reciprocal Exchange, has now been priced and the company secured its initial target for $150 million of reinsurance from the Gateway Re Ltd. (Series 2022-1) transaction, but the coupon moved to the upper-end of guidance.
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Here are the ten most popular news articles, week ending April 24th 2022, 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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Rising interest in parametric insurance and risk transfer has resulted in an influx of investor capital into the space, the development of new MGA’s and capacity, as well as new technology platforms.
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Starting with a blank canvas allows for an insurance-linked securities (ILS) investment management business to be constructed with sustainability and ESG at its core, Paschal Brooks, co-founder of newly launched Sustain ILS Management told Artemis.
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GAM Holding AG, the parent company, reported yesterday that its GAM Star Cat Bonds fund strategy, the one managed by Fermat Capital Management, has continued to be one of the few bright-spots in its fixed income investment offering, even during a particularly volatile quarter.
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U.S. primary insurance carrier group, FedNat Holding Company, has responded to its recent downgrade and has agreed, along with its subsidiary carriers, to provide the Florida Office of Insurance Regulation (FOIR) with a viable plan moving forwards.
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Vantage Risk Ltd., the still relatively young Bermuda headquartered insurance and reinsurance company, has now secured its latest Vista Re Ltd. (Series 2022-1) catastrophe bond arrangement at the targeted $65 million size, but with pricing eventually fixed roughly 15% above the initial mid-point of guidance.
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The PERILS Insurance Exposure Database (IED) for 2022 shows that the largest exposure remains European windstorm with a huge EUR 64.8 trillion of insured values as of January 1st, 2022, up 5.2% on the previous year.
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Catastrophe bond and insurance-linked securities (ILS) market execution through 2021 was not uniform, which global reinsurance firm Swiss Re highlights is a sign of the market becoming increasingly mature.
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The Bank of England’s Prudential Regulation Authority (PRA) confirmed this morning that it is working on making changes to its insurance-linked securities (ILS) regime, with a view to bringing greater flexibility and speed to the regulatory process.
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TransRe has returned to the catastrophe bond market with what will be its third issuance, launching a Bowline Re Ltd. (Series 2022-1) deal through which it is seeking at least $175 million of US and Japanese retrocessional catastrophe reinsurance protection.
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