Cat bond news

Cat bond news – news and analysis covering the market for catastrophe bonds and other catastrophic peril insurance-linked securities (ILS), including all the cat bond issuance news, cat bond market trends, cat bond analysis and catastrophe bond data.

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SunTrust and BB&T (both ILS trust providers) merge to form Truist

There is a new reinsurance and insurance-linked securities (ILS) collateral trust provider in town, after Truist Financial Corporation was formed after a merger of equals between SunTrust and BB&T.Both SunTrust Bank and BB&T are large banking groups with operations across personal and commercial customers.The pair both had specialist areas that read the full article →

AXA XL settles for $475m Galileo Re 2019-1 catastrophe bond

AXA XL, the global specialty insurance and reinsurance unit of the AXA Group, will settle its latest catastrophe bond Galileo Re Ltd. (Series 2019-1) at $475 million in size, as the company fixes pricing and allocations for its latest capital markets backed reinsurance transaction.The transaction is significantly smaller than it read the full article →

Everest Re gets $850m cover from new Kilimanjaro Re catastrophe bonds

Everest Re has now secured an $850 million slice of retrocessional reinsurance protection from the capital markets with its latest dual issuance of two series of notes from its Kilimanjaro Re Ltd. cat bond issuance vehicle.Everest Re returned to the cat bond market in November with its first issuance since read the full article →

Best of Artemis, week ending 8th December 2019

Here are the ten most popular news articles, week ending 8th 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 updatesor get our email alerts for every article we publish.Less than two read the full article →

ILS NYC 2020: Two months to go!

There are only two months to go until we hold our ILS NYC 2020 conference, so register soon to ensure you can attend at the best possible price.We’re holding our fourth annual insurance-linked securities (ILS) conference held in New York City on February 7th 2020 in central midtown Manhattan.Agenda:We've already read the full article →

Philippines seeks reinsurance to cover $19.6bn of state assets & infrastructure

The government of the Philippines continues to expand its natural catastrophe related insurance and risk transfer provisions, with the latest step being a roughly US $19.6 billion cover for certain state assets, for which it is now seeking private market reinsurance protection.The Philippines government has entered into the 1 trillion read the full article →

ARC focusing on multi-hazard index for climate cat bond facility XCF

The African Risk Capacity (ARC) continues to work towards the implementation of its climate catastrophe bond backed Extreme Climate Facility (XCF), focusing on the development of a robust multi-hazard index that can be used to trigger the instruments.The Extreme Climate Facility (XCF) is a proposed multi-year funding mechanism which will read the full article →

Everest Re aims for up to $800m from Kilimanjaro III Re cat bonds

Global insurance and reinsurance firm Everest Re has lifted its targets for its latest catastrophe bond issuances, with the company now hoping to secure between $500 million and $800 million of retrocessional reinsurance from the Kilimanjaro Re III transactions.At the same time as lifting the target for the cat bonds, read the full article →

Climate change adaptation financing can benefit from partnership with ILS

Climate change adaptation projects and the need for them are rising up the agenda, as a recent surge in damages from severe weather and climate related catastrophe events concentrates the mind on the importance of investing in this area.Public authorities are showing renewed and increasing interest in climate adaptation, while read the full article →

Gap between best & worst performing ILS fund nears 10% in October

The broad diversity within the insurance-linked securities (ILS) fund market became very apparent in October 2019, as the impacts of catastrophe losses from Hagibis drove the gap between best and worst performing ILS fund to almost 10%.It's one of the highest figures we've seen in our almost two decades tracking read the full article →