Catastrophe bond news

With the Atlantic hurricane season officially underway as of June 1st and forecasts calling for a particularly active year, insurance-linked securities investment manager Twelve Capital believes investors with a long-term view are well-compensated for shouldering this exposure.

Moody’s Ratings does not believe reinsurance sector will resume assumption of coverage at the levels previously seen, meaning the higher exposure being borne by primary insurers is deemed now structural, rather than a cyclical occurrence.

The government of Puerto Rico’s first attempt to source parametric insurance from the capital markets through a catastrophe bond appears to have been well-received by the market, as the Puerto Rico Parametric Re Ltd. (Series 2024-1) catastrophe bond has grown to $85 million in size and looks set to price at the mid-point of guidance, […]

Hannover Re, the German global reinsurance company, has returned to the catastrophe bond market to secure $100 million of named storm and hurricane retrocessional protection for parts of the United States, with a new 3264 Re Ltd. (Series 2024-1) issuance, we’ve learned.

With just one month to go, we’re delighted to announce four additional expert speakers from across the industry for our upcoming catastrophe bond and insurance-linked securities (ILS) market conference in Singapore, ILS Asia 2024, which takes place on July 11th at the Suntec Convention Centre.

Dutch headquartered European insurance group Achmea has now secured its upsized target of €100 million of reinsurance protection from its new Windmill III Re DAC (2024-1) catastrophe bond, while the notes have now priced at roughly 14% below the mid-point of initial guidance, Artemis has learned.

RenaissanceRe has increased the target size of its new industry-loss trigger Mona Lisa Re Ltd. (Series 2024-1) catastrophe bond for a second time, with $150 million of retrocessional protection now sought, while the price guidance has been fixed below the initially marketed range.

The combined assets under management of the main catastrophe bond funds in the UCITS format have now surpassed $12 billion for the first time ever, nearing $12.2 billion by the end of May 2024 and now having risen by over 11% so far this year.

In another signal that catastrophe bond market conditions have once again become more balanced, RenaissanceRe has raised the target size for its new industry-loss trigger Mona Lisa Re Ltd. (Series 2024-1) cat bond to $125 million, while at the same time the price guidance has fallen.

Dutch headquartered Europe-focused insurance group Achmea has now lifted its target for reinsurance protection from its new Windmill III Re DAC (2024-1) catastrophe bond to €100 million, while at the same time the price guidance has dropped, reflecting investor appetite for diversification opportunities.