Cat bond news

With hurricane Debby private insurance market losses looking set to come in around the $1 billion or below level, ILS investment manager Twelve Capital has said that no direct impacts to catastrophe bonds would be expected, but continued aggregate erosion to certain cat bonds is more likely.

Today we wanted to give you an idea of who can meet at our upcoming catastrophe bond and insurance-linked securities (ILS) market conference in London on Tuesday September 3rd. A few early Bird tickets for Artemis London 2024 are still available, so register soon to secure the best price attendance.

Full-service global law firm Locke Lord has announced the hiring of J.P. Hong, an experienced insurance-linked securities (ILS) lawyer that previously worked at Sidley, seeing the ILS market as a strategic growth area for the company.

Artemis has learned of another private catastrophe bond issuance by the Artex Capital Solutions managed Eclipse Re Ltd. structure, with a just over $7 million Eclipse Re Ltd. (Series 2024-5A) taking the issuance of private catastrophe bonds, or cat bond lites, to almost $375 million in 2024 so far.

We are delighted to reveal four more expert speakers today, who will be joining our catastrophe bond and insurance-linked securities (ILS) market conference in London on Tuesday September 3rd. Early Bird tickets for Artemis London 2024 are still available, so register soon to secure the best price attendance.

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.

Specialist re/insurer Beazley said this morning that it aims to develop a “vibrant” cyber reinsurance market with the help of insurance-linked securities (ILS) investors, while also noting that the recent CrowdStrike IT outage has shown its cyber underwriting was resilient to such a loss event.

In the insurance and reinsurance market, catastrophe bond issuance levels and activity are becoming a key focus for any investor discussions regarding industry capacity and price, according to equity analysts at Goldman Sachs.

At Hiscox Group, as the mix of third-party capital adjusts with new inflows into insurance-linked securities (ILS) structures and continued planned outflows as money gets returned to investors, Hiscox CEO Aki Hussain said today that this won’t affect the firm’s underwriting risk appetite.

The Texas Windstorm Insurance Association (TWIA) has said that with it estimating losses of $400 million from hurricane Beryl making landfall in the state, it now believes most if not all of its Catastrophe Reserve Trust Fund (CRTF) may be eroded, something that will have implications for its funding and maybe for its reinsurance buying.