capital markets

The Board of the Texas Windstorm Insurance Association (TWIA) has today approved a $485 million budget line item for ceded reinsurance and catastrophe bond spend for 2025, which is up 22% on the $397 million spent on protection for 2024.

Insurance and reinsurance broker Aon has promoted Ciaran Healy to the role of Global Captive Leader for the firm’s Commercial Risk Solutions division, a position that will see him also with responsibility for the management of insurance-linked securities (ILS) and protected cell structures as well.

The Brazilian insurance regulator SUSEP has now authorised the first insurance-linked securities (ILS) structure in the country, with Andrina sponsored by IRB Re and now approved to issue Letra de Risco de Seguro (Insurance Risk Letters), which is the name for the insurance-linked notes a Brazilian ILS structure can issue to be sold to investors.

You would be forgiven for thinking the industry had moved on from the debacle that was the Vesttoo reinsurance letter of credit (LOC) fraud, but legal action continues and the latest case to be filed sees fronting specialist Clear Blue Insurance suing China Construction Bank for damages.

Speaking at a Fitch Ratings event on the development of insurance-linked securities (ILS) in Brazil, Rodrigo Botti, former CFO of IRB and former CEO of Terra Brasis, emphasised a domestic market-first approach, with no intention of competing with other established ILS hubs.

Today, we are delighted to announce that casualty insurance-linked securities (ILS) and investment opportunities in parametric risk transfer structures, will be the focus of two main panel sessions at our upcoming Artemis ILS NYC 2025 conference in New York on February 7th next year.

Ledger Investing, the insurance technology (insurtech) and insurance-linked securities (ILS) focused company, has now surpassed $2 billion in casualty ILS placements with institutional investors.

The Early Bird rate for tickets to attend our upcoming ILS NYC 2025 conference is still available, but with tickets selling fast we’d urge you to register soon to take advantage of it. Today, we wanted to give you an advance view of the companies you can meet if you attend.

The California Earthquake Authority (CEA) did not come back to the reinsurance market at its typical October 1st renewal, allowing roughly $511 million of cover to expire and it now expects to re-evaluate its risk transfer need at the January renewals, meaning a $215 million catastrophe bond will likely mature without renewal later this month.

Through its corporate foundation, France-headquartered global reinsurance company SCOR is backing a climate prediction market initiative named CRUCIAL (The Climate Risk and Uncertainty Collective Intelligence Laboratory) that looks to produce collective expert forecasts of climate-related risks.