Cat bond news

As the Atlantic hurricane season drew to its close, the overall yield of the catastrophe bond market continued its typical seasonal declining trend, albeit at a slightly slower pace as there were also supply-demand factors evident in the market, but still by the end of November 2024, the cat bond market yield stood at a […]

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.

US primary insurer Allstate has for the second time lifted the target size of its latest catastrophe bond, with now $650 million in multi-peril catastrophe reinsurance protection sought from the capital markets through this Sanders Re II Ltd. (Series 2024-3) issuance, Artemis can report.

American Coastal Insurance Company has lifted the target size for its latest catastrophe bond, with now up to $150 million in Florida named storm reinsurance protection sought from this new Armor Re II Ltd. (Series 2024-2) issuance, Artemis has learned.

Here are the ten most popular news articles, week ending December 8th 2024, 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.

During the Geneva Association’s media call on Global Risks & Insurance, Darren Pain, Director of Cyber, highlighted his expectation for continued growth in the cyber insurance-linked securities (ILS) market, though he noted this growth is likely to be gradual due to ongoing challenges.

Mapfre Re has increased the target size for the amount of retrocessional reinsurance it hopes to secure from its debut catastrophe bond sponsorship, with the Recoletos Re DAC (Series 2024-1) issuance now aimed for $125m, while at the same time the price guidance has been lowered.

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.

American Family Mutual Insurance Company (AmFam) is now looking to upsize its latest catastrophe bond, with the target size increasing from $175 million to now $250 million in protection from the Four Lakes Re Ltd. (Series 2024-1)  cat bond issuance.

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.