cat bond lite

Twelve Capital, the Swiss headquartered insurance-linked securities (ILS) and reinsurance investment manager, has successfully completed its second private catastrophe bond issuance of the year, bringing a $10 million Dodeka 2024-2 deal to market.

Issuance of private catastrophe bonds, or cat bond lites, has now reached $357.6 million in 2024, after two more privately placed insurance-linked securities (ILS) arrangements came to light from the Artex Capital Solutions managed Eclipse Re Ltd. structure.

Artemis has learned of two new private catastrophe bond issuances from Mangrove Risk Solutions Bermuda Ltd., the platform operated by Marsh McLennan and reinsurance broker Guy Carpenter, with just over $39.5 million in risk capital issued across two zero-coupon transactions.

Some $60.5 million of the Seaside Re private catastrophe bond transactions facilitated by global reinsurance firm Hannover Re have now been allowed to mature, reducing the amount outstanding with their maturity dates extended to $78.25 million and those remaining have had their maturity dates pushed further out to October.

A new private catastrophe bond transaction has come to light, as Artemis has learned that Mangrove Risk Solutions Bermuda Ltd., the platform operated by Marsh McLennan and reinsurance broker Guy Carpenter, has issued a new $20 million Mangrove Risk Solutions Bermuda Ltd. (Series 2024-D) transaction.

A new $5 million private catastrophe bond issued by German reinsurance company Hannover Re’s Bermuda-domiciled vehicle Kaith Re Ltd. has come to light, with the LI Re (Series 2024-1) deal assumed to be providing privately placed collateralized and securitized catastrophe reinsurance capacity for an unknown sponsor.

Broking giant Aon has facilitated the issuance of a new $45.5 million Randolph Re (Series 2024-1) private catastrophe bond that we believe could be a renewal of its wildfire deal for Mercury Insurance, but this time it has been issued out of Guernsey using the firm’s protected cell company White Rock Insurance Company PCC Limited.

Twelve Capital, the Swiss headquartered insurance-linked securities (ILS) and reinsurance investment manager, has successfully completed a new $15 million Dodeka 2024-1  private catastrophe bond, which is the manager’s twenty seventh issuance in the Dodeka series.

Catastrophe bond and related insurance-linked securities (ILS) market activity levels accelerated in the second-quarter of 2024, with a record $8.4 billion of new risk capital issued that propelled the market to a record size of $48 billion, Artemis’ just-released new quarterly market report details.

The Artex Capital Solutions managed Eclipse Re Ltd. structure has issued a new private catastrophe bond transaction, a $25 million Eclipse Re Ltd. (Series 2024-2A) deal.