Cat bond news

The initial risk interest spread for Fidelis Insurance’s new Herbie Re Ltd. (Series 2022-1) North America earthquake focused catastrophe bond has been lifted roughly 30% during marketing, in another sign of cat bond investors’ demand for higher returns.

Twelve Capital, the Zurich-headquartered catastrophe bond, insurance-linked securities (ILS) and reinsurance linked investment fund manager, has announced a number of new board appointments to bring additional senior experience to the company.

Here are the ten most popular news articles, week ending November 13th 2022, 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.

Plenum Investments has slashed hurricane Ian loss expectations for its catastrophe bond investment funds, saying that initial estimates from sponsors are coming in “significantly lower than our original expectations”, leading it to believe the draw-down could be less than half the initial estimates.

The U.S. Federal Emergency Management Agency (FEMA) has issued an estimate of flood insurance claims for the National Flood Insurance Program (NFIP) from hurricane Ian, giving a range of $3.5 billion to $5.3 billion, at which level the catastrophe bonds wouldn’t face losses.

We are now only three months away from our next insurance-linked securities (ILS) market conference. Artemis ILS NYC 2023 is being held on February 10th in New York City. Register today to guarantee your place at the conference at the best possible price.

For global reinsurance company SCOR, 2022 saw the company adding new quota share sidecar capacity from third-party investors to its retrocession program, as it looked to add more diversification to its retro capital sources, while strengthening its retro protection.

The sixth session at our Artemis London 2022 conference featured a panel discussion on the potential for London to build-out an increasingly vibrant hub for catastrophe bond and insurance-linked securities (ILS) activity.

Specialty earthquake-focused residential property insurance company GeoVera Insurance Holdings, Ltd. has entered the catastrophe bond market for the first time, sponsoring a $150 million debut earthquake cat bond issuance, Veraison Re Ltd. (Series 2023-1).

At the COP27 climate change conference in the coming days, the World Bank is set to announce the launch of the Global Shield Financing Facility (GS-FF), which will be an important new financing structure to channel capital to protect vulnerable nations against climate and disaster risks.