Catastrophe bond news

Florida’s homeowners insurance market is experiencing “unsutainable” conditions and the consistency of loss across the marketplace is seen as “staggering”, according to the CEO of Florida’s Citizens Property Insurance Corporation Barry Gilway.

A new study of institutional investors from around the world by global asset management group Schroders has found that 10% of respondents plan to increase their allocations to insurance-linked securities (ILS) over the next year.

Eclipse Re Ltd., the Horseshoe managed private syndicated collateralised reinsurance note, private catastrophe bond issuance and reinsurance transformer platform, has issued four new tranches of cat bond notes, totalling roughly $45.2 million, with the four tranches potentially part of the same reinsurance or retrocession program arrangements.

In the last quarter of record, the dedicated insurance-linked securities (ILS) mutual investment fund operated by Amundi US Investment Management allocated more of its capital into industry loss warranty (ILW) and reinsurance sidecar investments.

Isosceles Insurance Ltd., the private insurance-linked securities (ILS) and catastrophe bond issuance platform operated by Marsh McLennan and reinsurance broker Guy Carpenter, has completed another transaction, with a $21.5 million Isosceles Insurance Ltd. (Series 2021-H) issued.

U.S. primary mutual insurance company USAA is back in the catastrophe bond market for its regular November issuance of a per-occurrence catastrophe bond, targeting at least $225 million of multi-peril reinsurance protection from this Residential Reinsurance 2021 Limited (Series 2021-2) transaction.

For our latest Artemis Live video interview, we were joined by Tom Johansmeyer, Head of PCS to discuss the subject of cyber risk and ask the question, why isn’t it a bigger exposure in the insurance-linked securities (ILS) market?

A second renewal transaction for the novel parametric catastrophe bond deal that ultimately provides earthquake related workers compensation protection to an insured has come to market, with an Acorn Re Ltd. (Series 2021-1) transaction now in the market seeking to renew protection to benefit the Kaiser Permanente health group.

Yesterday, as tropical storm Pamela was intensifying in the Pacific and heading for a landfall in Mexico, the forecasts at the time were suggesting Pamela would quickly become a hurricane and then intensify to major category 3 or stronger before landfall, which suggested that Mexico’s World Bank facilitated IBRD / FONDEN 2020 parametric catastrophe bond […]

There’s a lot of talk in the industry about the potential for important rating agency capital charges associated with property catastrophe risks to be updated soon, to account for what some are now viewing as a changed, or different, loss environment.