Cat bond news

The importance of environmental, social & governance (ESG) will grow for the insurance-linked securities (ILS) market and cascade through to the service provider level as well, according to HSBC executives we interviewed recently.

The cyber-attack threat is elevated this year and as the need for risk transfer grows, the re/insurance and insurance-linked securities (ILS) market would benefit from considering ways to formalise what losses are included under cyber ILS deals, according to Tom Johansmeyer, Head of PCS.

Eclipse Re Ltd., the Horseshoe managed private syndicated collateralised reinsurance note, private catastrophe bond issuance and reinsurance transformer platform, has completed the first issuance we’ve seen of 2022, with a $75 million Eclipse Re Ltd. (Series 2022-1A) transaction coming to light.

Insurance and reinsurance broker Miller, the independent and private equity funded broking group, is seeking to build on its insurance-linked securities (ILS) activity in Bermuda with the hire of former Markel and Lodgepine employee John Duda.

As the insurance-linked securities (ILS) asset class moves forwards from a few challenging years, it’s key to deliver more predictable outcomes for the ILS investor base and to continue expanding the range of options available to them, Stephan Ruoff and Mark Gibson of Schroders Capital discussed in a recent video interview.

UK government backed mutual terrorism reinsurance firm Pool Re has upsized its new Baltic PCC Limited (Series 2022-1) terror catastrophe bond to £100 million in size, helping it to increase the size of its retrocession tower to UK £2.5 billion at the renewal, up from £2.475 billion a year ago.

The North Carolina Insurance Underwriting Association (NCIUA) has returned to the catastrophe bond market for its first issuance of 2022, seeking $300 million or more in collateralized reinsurance protection from a Cape Lookout Re Ltd. (Series 2022-1) issuance.

Florida’s insurance carrier challenges persist with another company headed into insolvency and analysts saying that almost half of the smaller Florida-dedicated homeowners carriers they have tracked have failed to make a go of it.

Catastrophe bond market momentum is expected to continue at a strong pace in 2022, after investor appetite and new sponsors assisted in driving the record issuance seen in 2021, according to Aon Securities.

It’s become apparent that US primary insurance carrier Allstate is set to make more reinsurance recoveries from its catastrophe bonds for aggregate losses, as the firm has made a small recovery from the $100 million Class B notes of its Sanders Re II Ltd. (Series 2020-1) transaction and the market expects more erosion to that […]