Cat bond news

The pricing for Canadian alternative investment manager and multinational Brookfield Corporation’s first catastrophe bond has been updated and lowered again, with the company now aiming to secure the $100 million Aragonite Re Ltd. (Series 2024-1) deal priced below the initial guidance.

MS&AD Insurance Group Holdings has lifted the target size for its latest catastrophe bond slightly, with now up to $200 million of multi-year and multi-peril Japanese catastrophe reinsurance protection sought for its two main Japanese insurance carriers, through this Tomoni Re Pte Ltd. (Series 2024-1) issuance.

Here are the ten most popular news articles, week ending March 24th 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.

Tokio Marine Holdings, Inc., through its subsidiary Tokio Marine & Nichido Fire Insurance Co. Ltd., has become the first Japanese insurer to make use of a SOFR-based World Bank Sustainable Development Bond as a permitted investment within its latest catastrophe bond issuance, the company highlighted today.

Heritage Insurance Holdings, Inc., the nationally expansive and Florida headquartered property and casualty insurer, has now secured its target for $100 million in collateralized US named storm reinsurance from a new Citrus Re Ltd. (Series 2024-1) catastrophe bond issuance.

Brookfield Corporation, the alternative investment manager and multinational from Canada, is now aiming to secure its debut catastrophe bond at lower pricing, with the still $100 million Aragonite Re Ltd. (Series 2024-1) deal seeing its risk interest spread guidance reduced.

This video features an expert panel discussing trends in insurance-linked securities (ILS) investor sentiment and appetites at our Artemis ILS NYC 2024 conference, held in New York on February 9th 2024.

High-net worth insurance specialist unit and member of the Tokio Marine Group, PURE, has now secured its debut catastrophe bond at the slightly upsized $105 million, while the Ashera Re Ltd. (Series 2024-1) notes have been priced below the initial guidance, Artemis has learned.

Italian primary insurance company UnipolSai Assicurazioni S.p.A. has now secured its targeted €100 million in collateralized earthquake reinsurance from the Azzurro Re II DAC (Series 2024-1) catastrophe bond with pricing finalised at the top-end of initial guidance, Artemis has learned.

AXIS Capital, the Bermuda based specialty insurance and reinsurance company, has announced the promotion of Kyle Freeman to the role of Head of ILS, as the company elevates him to oversee all third-party capital activities.