Cat bond news

Everest Re has has now settled for $200 million in multi-peril per-occurrence retrocessional reinsurance from its new Kilimanjaro II Re Ltd. (Series 2024-1) catastrophe bond, securing that coverage at reduced pricing as the spreads settled well-below guidance, Artemis has learned.

Groupama, the French mutual insurance and reinsurance company, is back in the 144A catastrophe bond market for the first time since 2013, seeking €150 million in windstorm reinsurance protection from the capital markets through a Quercus Re DAC 2024-1 catastrophe bond issuance, Artemis has learned.

This video features the final insurance-linked securities (ILS) expert panel of the day at our Artemis ILS NYC 2024 conference, which was held in New York on February 9th 2024.

SageSure, the coastal property managing general underwriter, has lifted the target for its second county-weighted industry-loss trigger catastrophe bond, with now $60 million of hurricane protection sought from the issuance of Gateway Re Ltd. (Series 2024-4) notes.

Here are the ten most popular news articles, week ending June 23rd 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.

Italian and global insurance giant Assicurazioni Generali S.p.A. has revised its framework for green catastrophe bonds to incorporate updates and expand its scope, now publishing a Green, Social and Sustainability Insurance-linked Securities Framework in its place.

Catastrophe bond investors continue to express their risk appetites through pricing and their demand for return, with the latest example being a pricing-up of the still $100 million Mayflower Re Ltd. (Series 2024-1) transaction from the Massachusetts Property Insurance Underwriting Association (MPIUA), Artemis can report.

Hannover Re, the German global reinsurance company, is now aiming to upsize its latest retro catastrophe bond, lifting the target for the 3264 Re Ltd. (Series 2024-1) issuance to as much as $140 million, this publication has learned.

Catastrophe bond new issuance continues apace in 2024 and has reached $12.1 billion including the latest deals to hit the market and settle today, which means the pace of issuance is now running 29% ahead of the prior year, according to the latest data from Artemis.

Having recently secured €100 million of reinsurance protection from its new Windmill III Re DAC (2024-1) catastrophe bond, reinsurer Achmea Re’s MD Ewoud Bom has pointed to the efficiency of the multi-issuance structure, as well as the strong investor reception it felt for what is its second 144A and fourth cat bond deal.