Bermuda-headquartered global reinsurance firm RenaissanceRe has raised the target size for its new Mona Lisa Re Ltd. (Series 2020-1) catastrophe bond transaction by 80%, with the issuance now aiming to secure up to $450 million of retrocession for the company.
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The world’s largest institutional investors are increasingly vocal about the need to accelerate efforts to tackle the climate crisis, with many of the same group also contributing a significant proportion of the insurance-linked securities (ILS) market’s capital base.
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The Ontario Municipal Employees Retirement System (OMERS), one of Canada’s largest pension funds, has again demonstrated its liking for insurance and reinsurance linked returns, by taking a 40% stake in run-off and legacy specialist firm RiverStone UK.
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The innovative Sierra Ltd. (Series 2019-1) catastrophe bond transaction, that is designed to provide parametric U.S. earthquake protection to an investment manager’s portfolio of mortgage related securities, has successfully upsized by 50% to reach $225 million for the sponsor.
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Hannover Re, the German reinsurance company, has facilitated a renewal of a $10 million private catastrophe bond exposed to California earthquake risks, using its Kaith Re segregated accounts vehicle.
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Here are the ten most popular news articles, week ending 22nd December 2019, 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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Specialty re/insurer Brit’s collateralised reinsurance fund platform, Sussex Capital, is receiving good support and increased allocations ahead of the January 1st renewals, with the firm dedicated to building and expanding on the Diversified Fund, according to Jon Sullivan and Mark Allan.
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Global reinsurance firm Munich Re is in the midst of issuing its collateralised reinsurance sidecar arrangements for 2020, with the first $54.6 million tranche of Eden Re II Ltd. Series 2020-1 notes and the first slice of a Leo Re Ltd. 2020-1 private sidecar arrangement for Dutch pension fund investor PGGM.
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Negotiations over details of loss buffer tables is becoming a key feature of all reinsurance and retrocession renewals for providers of collateralised sources of capacity, such as ILS funds and investors.
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AXA XL, the specialty commercial insurance and reinsurance division of France headquartered global player AXA, has continued to simplify the structure of its reinsurance business around key markets and its core strategy.
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The loss impact from a severe hailstorm that struck the Sydney and surrounding area of Australia in December 2018 is now estimated 4% higher at an insurance and reinsurance market loss of A$798 million (around US $550m) by PERILS AG.
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The evolution of the Bermuda domiciled director provides robust governance for the region’s insurance-linked securities (ILS) industry, according to Alison Dyer, Managing Director, Estera.
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Opinions differ dramatically when it comes to estimating industry insured losses from typhoon Hagibis it seems, with global reinsurance giant Swiss Re opting for just $8 billion.
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Dutch headquartered life, pensions and annuities focused insurer Aegon has secured a €12 billion longevity reinsurance transaction with Canada Life Re, helping it to transfer more of its longevity risk to the benefit of its solvency measures.
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