casualty cat bond

Vesttoo, the insurance-linked securities (ILS) focused insurtech, has an investment grade ILS deal in the market, Artemis has learned, with circa $109 million of ‘BBB’ rated Vesttoo Bermudian Bay Ltd. (Vescor Series 2023-1) notes on offer that are linked to the performance of a risk pool featuring non-cat largely casualty risks.

The base of insurance-linked securities (ILS) investors that are interested in casualty, or longer-tailed P&C reinsurance risks, is expanding, according to rating agency AM Best, who noted increasing interest in the non-catastrophe segment of the ILS market.

AIR Worldwide and Bermudian reinsurance firm RenaissanceRe are collaborating on the development of what they call the industry’s first probabilistic casualty catastrophe risk model, which the pair say will enhance the industry’s modeling of long-tail casualty risk.

Risk modelling firm AIR Worldwide will benefit from liability and casualty risk modelling abilities after parent company Verisk Analytics announced the acquisition of Arium, an independent company focused on liability risk modeling and decision support.

Assicurazioni Generali sees the successful acquisition of €255 million of fully collateralised reinsurance protection from the capital markets, through the recent Horse Capital I DAC motor third-party liability loss ratio ILS, as an example of capital markets support for its strategic optimisation of its capital allocation.

Capital market investors were “well placed” to support the recent Horse Capital I DAC motor third-party liability loss ratio ILS, catastrophe bond like transaction, and its successful completion could open the ILS market to new opportunities, according to Bill Dubinsky of WCMA.

Assicurazioni Generali will secure an upsized €255 million (approx US$266m) of fully collateralised reinsurance cover for motor third-party liability loss ratio deterioration, after its innovative Horse Capital I DAC ILS or catastrophe bond like transaction grew by 42% at pricing.

European insurance giant Assicurazioni Generali is set to upsize its innovative motor third-party liability ILS deal Horse Capital I DAC, as the targeted transaction size has risen from €180m at launch to a new target of between €210m to €240m (US$255m).

The catastrophe bond and ILS market looks set to see a very rare casualty cat bond type transaction as European insurance giant Assicurazioni Generali seeks a €180m or larger source of motor third-party liability reinsurance protection through a Horse Capital I DAC securitisation.

The launch of Oortfolio™, a liability insurance risk modeling platform from Praedicat, could stimulate innovation in liability insurance risk transfer, such as attracting new capital by enabling it to better quantify liability exposures and even liability catastrophe bonds.