Catastrophe bond news

AXA XL, the global specialty insurance and reinsurance unit of the AXA Group, is back in the catastrophe bond market for the first time since late 2019, seeking $250 million or more in protection with a new Galileo Re Ltd. (Series 2023-1) issuance, that features a reduced range of perils to its recent deals and […]

Global insurance and reinsurance specialist Everest Group is now anticipating a $20 million recovery due to hurricane Ian from the industry loss based retrocessional protection available to it from its Kilimanjaro Re catastrophe bonds that appear triggered, Artemis can report.

Plenum Investments, the specialist Zurich-based asset manager, has seen its two catastrophe bond funds deliver record performance so far this year, despite a significant de-risking having been undertaken over the last twelve months.

USAA, the primary military mutual insurance company, has now successfully secured its latest catastrophe bond, the Residential Reinsurance 2023 Limited (Series 2023-2) deal, one-third larger than the initial target, to provide it $400 million of multi-peril and multi-year collateralized catastrophe reinsurance protection.

French mutual insurer Covéa Group has now finalised its new Hexagon IV Re Ltd. (Series 2023-1) catastrophe bond at the upsized target for €145 million in collateralized windstorm reinsurance, while the pricing settled at the raised levels we had previously reported, we have learned.

K2 Advisors, the hedge fund focused investment management unit of Franklin Templeton, has raised its conviction on investing into insurance-linked securities (ILS) and reinsurance investments to “strongly overweight” saying it anticipates firm pricing conditions and despite some spread tightening in catastrophe bonds the yields remain attractive.

Nascent Group, an insurance management and reinsurance transformer company launched to reimagine the insurance-linked securities (ILS) servicing space, has announced the hire of Warren De Klerk to lead its catastrophe bond administration activities.

Insurer USAA looks set to have a strong result from its latest catastrophe bond, with significant support shown by the investor base for its new Residential Reinsurance 2023 Limited (Series 2023-2) deal, from which it is now targeting as much as $400 million of multi-peril reinsurance.

French mutual insurer Covéa Group has lifted the target size for its latest catastrophe bond, now seeking €145 million in collateralized windstorm reinsurance from this Hexagon IV Re Ltd. (Series 2023-1) issuance, but the pricing has risen, most significantly for the riskier tranche of notes that are on offer.

Here are the ten most popular news articles, week ending November 5th 2023, 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.