Catastrophe bond news

Pricing has tightened further for two of the tranches of notes being issued as part of Liberty Mutual’s new Mystic Re IV Ltd. (Series 2025-1) catastrophe bond, as the insurer looks set to be another to benefit from strong investor demand and strong cat bond execution in the primary market.

Here are the ten most popular news articles, week ending December 15th 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.

US insurance firm Progressive is targeting even more favourable price execution for its latest venture to the catastrophe bond market, with the spread guidance for its new $345 million Bonanza Re Ltd. (Series 2024-1) issuance having fallen further in the latest update, we understand.

The market should expect Swiss Re to continue building out its capabilities across insurance-linked securities (ILS) and alternative reinsurance capital, as the company is benefiting from their growth, while investors in Alternative Capital Partners (ACP) structures have been enjoying “very strong performance”, CFO John Dacey said today.

Global reinsurance company Swiss Re said today that its third-party capital markets focused Alternative Capital Partners (ACP) division is supporting its long-term growth trajectory in natural catastrophe risks.

Qube Research & Technologies (QRT), a global quantitative and systematic investment manager that specialises in a technology and data-driven approach to allocation across liquid asset classes, has hired former Schroders executive Daniel Ineichen to lead an insurance-linked securities (ILS) strategy.

Mapfre Re, the global reinsurance company headquartered in Spain, has said it is “very satisfied” with securing its debut catastrophe bond, the Recoletos Re DAC (Series 2024-1) issuance, saying that the deal was positively received by the capital markets.

QBE Insurance Group, the Australia headquartered global insurance and reinsurance company, is back in the catastrophe bond market for the first time since 2013, with a target to secure $250 million or more in retrocession from a Bridge Street Re Ltd. (Series 2025-1) issuance, Artemis has learned.

American Family Mutual Insurance Company (AmFam) has now successfully secured the upsized $275 million in collateralized reinsurance protection it targeted from its latest Four Lakes Re Ltd. (Series 2024-1) cat bond issuance, while the risk spreads were priced at the low-end of reduced guidance.

American Coastal Insurance Company (AmCoastal) has now successfully priced its latest catastrophe bond and has secured the Armor Re II Ltd. (Series 2024-2) issuance at its upsized $200 million target, while the spread was finalised below initial guidance.