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 market data.

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Universal targets first cat bond with $100m Cosaint Re from Singapore

Universal Insurance Holdings, the Florida headquartered, nationally expansive U.S. primary insurance carrier, has entered the catastrophe bond market for the first time with a $100 million Cosaint Re Pte. Ltd. (Series 2021-1) transaction that is being issued out of Singapore. Universal has always been a significant user of the capital markets read the full article →

Tokio Marine seeks $150m Kizuna Re III cat bond from Singapore

Tokio Marine & Nichido Fire Insurance Co. Ltd., the giant Japanese primary insurance group, is back in the insurance-linked securities (ILS) market seeking its fifth Kizuna Re catastrophe bond with a $150 million Kizuna Re III Pte. Ltd. (Series 2021-1) transaction that is being issued out of Singapore. It will be read the full article →

Winter storm at $12bn – $18bn only attritional to aggregate cat bonds: Plenum

The recent severe winter storm losses in the United States are only expected to have an attritional effect on certain aggregate catastrophe bonds, while per-occurrence bonds are expected to escape loss, according to Plenum Investments. The Zurich-headquartered specialist catastrophe bond and insurance-linked securities (ILS) investment manager noted that multi-peril aggregate cat read the full article →

Coca-Cola pension fund ILS allocation grew 5% to $362m in 2020

The insurance-linked securities (ILS) allocation of global beverage and food giant The Coca Cola Company's pension fund has grown in 2020, ending the year 5% larger at $362 million. Coca-Cola's corporate pension plan has been invested in insurance-linked securities for a number of years, with as much as 5% of its read the full article →

USAA aggregate cat bonds in focus on winter storm impacts

Secondary market prices have dropped for some catastrophe bonds in the wake of recent severe winter storm losses in the United States, with aggregate Residential Re cat bonds, sponsored by primary military mutual insurer USAA, the names in investor focus. We've analysed some catastrophe bond broker pricing sheets and it's clear read the full article →

CEA gets $215m Ursa Re cat bond at 11% reduced pricing

The California Earthquake Authority (CEA) has successfully secured its first catastrophe bond transaction of 2021 at the upsized $215 million target, while the Ursa Re II Ltd. (Series 2021-1)  catastrophe bond has been priced at the low-end of already reduced coupon guidance. The pricing has moved considerably, once again reflecting high read the full article →

Best of Artemis, week ending 28th February 2021

Here are the ten most popular news articles, week ending 28th February 2021, 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. Ten most read the full article →

Palomar seeks $300m Torrey Pines quake cat bond issued from Singapore

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has returned to the catastrophe bond market its second transaction, with a new $300 million Torrey Pines Re Pte. Ltd. (Series 2021-1) earthquake only deal that is being issued out of Singapore. Palomar had previously sponsored a read the full article →

Hurricane-level winter storm claims to drive billions of losses: Aon

Insurance and reinsurance broker Aon has offered its view on the recent winter storm activity in the United States, saying that an expected "hurricane-level" of claims from the winter storm "will translate to payouts well into the billions of dollars." Aon's Impact Forecasting unit has not provided a loss estimate and read the full article →

NFIP reinsurance hits high with new $575m flood catastrophe bond

The U.S. Federal Emergency Management Agency (FEMA) continued to spread its risk with its latest visit to the catastrophe bond market, as the $575 million FloodSmart Re Ltd. (Series 2021-1)  cat bond has lifted its reinsurance program for the National Flood Insurance Program (NFIP) to a new high. FEMA returned to read the full article →