Catastrophe bond news

Recent estimates suggest that insured losses from the Los Angeles, California wildfires could be higher than anticipated. As a result, catastrophe bond prices are showing signs of weakness, with the market’s benchmark recording its first-ever negative January return since its inception over two decades ago, according to cat bond fund manager Icosa Investments AG.

Tower Hill Insurance Exchange has increased the target size for what will be its second catastrophe bond, lifting the Winston Re Ltd. (Series 2025-1) offering by 75% to provide $175 million in Florida named storm reinsurance protection.

American Integrity Insurance Company is back in the catastrophe bond market with a multi-layered transaction that could secure the firm as much as $325 million of fully-collateralized US named storm reinsurance across southeast states, through an Integrity Re III Ltd. (Series 2025-1) issuance, this publication has learned.

Kaith Re Ltd., the transformer vehicle owned by global reinsurance firm Hannover Re, has issued seven series of private catastrophe bond notes, all Seaside Re (Series 2025), for a total of $84 million of notes sold to investors.

Here are the ten most popular news articles, week ending February 2nd 2025, 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.

GeoVera Insurance Holdings, Ltd. has secured its largest catastrophe bond issuance yet, as the Veraison Re Ltd. (Series 2025-1) deal has now been priced to provide the company its upsized $450 million target for earthquake reinsurance protection.

Private ILS funds outpaced pure catastrophe bond funds in the full-year performance of the Eurekahedge ILS Advisers Index, while the average return across all of the insurance-linked securities (ILS) fund strategies tracked was 13.10% for 2024.

Since the very first deal came to market almost three decades ago, the cumulative value of catastrophe bonds and related insurance-linked securities (ILS) we’ve analysed and tracked has now surpassed $180 billion of issuance, according to our Artemis Deal Directory.

Hiscox Group is back in the catastrophe bond market seeking $200 million in retrocessional North American peak peril reinsurance protection from the capital markets with an Ocelot Re Ltd. (Series 2025-1) issuance, Artemis can report.

Lloyd’s of London CFO Burkhard Keese is to depart the market to focus on investment roles in the German insurance sector, but he is set to remain a strategic advisor with a focus on developing the risk transfer vehicle London Bridge 2.