Catastrophe bond news

Continued expansion of the insurance-linked securities (ILS) market into new business lines and geographies will require creativity and innovation, according to Paul Schultz, Chief Executive Officer (CEO) of Aon Securities.

The Comet Pension Scheme, a closed defined benefit pension fund, is set to allocate more capital to insurance-linked securities (ILS) as part of a new discretionary alternatives mandate that includes some ILS, adding to an allocation it already had with ILS manager Leadenhall Capital Partners.

Insurance industry think tank, the Geneva Association (GA), has underlined the necessity of reducing the financial impact of extreme weather events across the globe, an area where the features and capacity of the ILS market has the potential to play an important role.

We’re launching our latest conference to a wider audience today. Artemis ILS NYC 2017, our first U.S. event, was announced to our newsletter subscribers yesterday and now registration for the conference is open to the world.

Heritage Insurance Holdings Inc. said it expects its losses from hurricane Matthew will be less than $100m, with losses above a $40m retention falling within the insurers reinsurance tower but missing the $727.5m of Citrus Re catastrophe bonds.

Global law firm Dentons has appointed new hire John J. Sarchio as a partner in the Insurance Regulatory practice. Sarchio has experience in insurance and reinsurance transactional law, including catastrophe bonds, sidecars and other ILS arrangements.

Losses to the insurance and reinsurance industry from hurricane Matthew are expected to largely fall within the sector’s catastrophe budgets for the second half of 2016, according to analysts at Peel Hunt.

All three tranches of the Laetere Re Ltd. (Series 2016-1) catastrophe bond and the single tranche of the First Coast Re Ltd. (Series 2016-1) cat bond, traded down at lower and even distressed pricing at the back-end of last week due to hurricane Matthew’s approach.

The Swiss Re Global Cat Bond Index has declined by the largest amount since 2012 on the threat posed by hurricane Matthew’s approach towards Florida, as mark to market losses flowed through into investor and brokers cat bond pricing expectations.

Here are the ten most popular news articles, week ending 9th October 2016, 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.