Cat bond news

Tangency Capital Ltd., an insurance-linked securities (ILS) investment fund manager whose first strategy was focused on quota share reinsurance business, will be the portfolio manager of a new US mutual investment fund with a focus on catastrophe bonds and insurance-linked securities (ILS).

The first catastrophe bond sponsored by the Netherland’s based insurer NN Group, or Nationale-Nederlanden, remains on target to secure the company EUR 75 million of collateralised reinsurance, while the price guidance for the Orange Capital Re DAC (Series 2021-1) notes has narrowed towards the lower-end.

Here are the ten most popular news articles, week ending December 19th 2021, 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.

In 2022, there is a strong chance Florida’s Citizens Property Insurance Corporation buys more private market risk transfer in the form of reinsurance and catastrophe bonds through its Everglades Re program, although the Board has directed a review of risk transfer versus pre-event financing to see how money can be saved.

The new catastrophe bond issuance for ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has now been fixed at a smaller $80 million size, while one tranche of notes are not being issued at all, and the price for the remaining tranche of Bonanza Re Ltd. (Series 2021-1) cat bond notes has been […]

We’re told that the latest catastrophe bond to be sponsored by Hannover Re, the $100 million aggregate retrocession deal 3264 Re Ltd. (Series 2022-1), has now been priced and the coupon has fixed at the top-end of the already revised upwards guidance.

Michael Millette, Managing Partner at insurance-linked securities (ILS), reinsurance and transportation investment manager Hudson Structured Capital Management Ltd., has explained that without credible modelling, a cyber ILS market is unlikely to develop as capital won’t want to support the risk unless it has a better understanding of it.

Super typhoon Rai, or typhoon 28W which is known locally in the Philippines as Odette, is tracking towards the country’s central and southern islands and is expected to make landfall with sustained winds as high as 160 mph, putting holders of the World Bank issued IBRD CAR 123-124 catastrophe bond on alert.

The new catastrophe bond issuance for ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, now looks as if it could shrink in size, with one layer perhaps not being issued at all, while the price guidance for the remaining Bonanza Re Ltd. (Series 2021-1) cat bond notes has also risen.

Deployable (or not trapped and available to put to work) capital in the insurance-linked securities (ILS) sector is estimated to have fallen to around $70 billion to $75 billion, according to analysts at KBW.