MS Amlin has returned to the capital markets for a repeat of its landmark Asian property catastrophe risk collateralised reinsurance sidecar arrangement, with a $37.5 million issuance of Series 2022-1 notes through newly established Singapore SPV Phoenix 2 Re Pte. Ltd.
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A late season wildfire outbreak in Colorado has caused significant damage overnight, with around 600 properties reportedly destroyed as fast-moving, wind-driven wildfires burn in the Boulder County area, to the north of Denver.
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New research suggests hurricane and typhoon activity may shift further towards the poles, with tropical cyclone zones expanding and as a result hurricanes and typhoons occupying a broader range of latitudes in future, all because of climate change.
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A misalignment of priorities has led to some last minute challenges for buyers of retrocession at the January 1st 2022 reinsurance renewals, as ceding reinsurers have in some cases been left disappointed with capacity they had targeted drying up.
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A long-standing pension investor in insurance-linked securities (ILS), the Pennsylvania Public School Employees’ Retirement System (PSERS) is planning a withdrawal from the sector, as part of a planned divestment of all absolute return strategies.
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Validus, the Bermuda headquartered reinsurance underwriting arm of AIG, has now secured $400 million of retrocession from its latest catastrophe bond, as the Tailwind Re Ltd. (Series 2022-1) renewal transaction failed to reach the upper-end target, but all four tranches of notes were priced at attractive coupon levels.
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Insurance origination and distribution specialist Amwins has highlighted how unusual the hard market in property risks is at this time, especially for catastrophe exposed properties, as rather than a lack of capital driving rates higher, it is risk aversion that is driving harder rates.
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The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) has continued to grow in the last quarter of record, adding a further 7% to reach over $191 million in assets.
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Capacity to support parametric pandemic risk transfer and insurance is expected to remain limited in the United States, according to broker Willis Towers Watson, but pricing has been on the rise.
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The government of the Philippines has drawn $80 million to help in the recovery from super typhoon Rai (Odette) from the World Bank supported catastrophe contingent line-of-credit it has in place through a Catastrophe-Deferred Drawdown Option arrangement, dubbed the CAT-DDO 4.
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Ledger Investing, the insurance technology (insurtech) and insurance-linked securities (ILS) focused company, said that over the course of 2021 it placed more than $300 million of gross premium directly into the capital markets, as it continued to build out its risk securitization platform.
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This year, 2021, has been the most costly on record for the German insurance industry, as industry losses reached around €12.5 billion, with the largest contribution coming from the summer flooding.
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Velocity Risk Underwriters LLC, the managing general agency (MGA) operation established by reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital, has been acquired by funds managed by Oaktree Capital Management, L.P.
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Here are the ten most popular news articles, week ending December 26th 2021, 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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