The just completed first indemnity catastrophe bond sponsored by asset management giant Blackstone is a new milestone for the insurance-linked securities (ILS) market, Swiss Re’s Jean-Louis Monnier has said, as it broadens what the cat bond can do for asset managers seeking peak catastrophe peril protection.Read the full article
Corporate cat bond
A corporate cat bond is a cat bond that is sponsored directly, or indirectly, by a company, corporation, or other similar entity.
Increasingly, corporations and companies are accessing the insurance-linked securities (ILS) markets directly, or indirectly with the help of reinsurance market participants, to access the capital market investor appetite for insurance risk.
Corporate cat bond sponsors typically seek protection against peak catastrophe perils through issuance of cat bonds.
A fronting reinsurer, or a captive insurance entity, are often used to interface with the issuing vehicle and act as an intermediary between the corporate sponsor and the capital markets investors, to cascade the cat bond coverage down to the corporate sponsor as insurance protection.
Investment giant Blackstone has successfully secured its targeted $250 million of multi-peril, named storm and earthquake, and indemnity based catastrophe insurance protection for its real estate funds, through the new Wrigley Re Ltd. (Series 2023-1) cat bond transaction.Read the full article
Investment giant Blackstone is aiming to secure its latest and second catastrophe bond priced at the low-end of guidance, seeking as the company aims to seal the capital markets provision of $250 million of multi-peril and indemnity based catastrophe insurance protection through the Wrigley Re Ltd. (Series 2023-1) transaction.Read the full article
The notes from the Acorn Re Ltd. (Series 2023-1) parametric earthquake catastrophe bond transaction have now been priced and in the end will only provide its sponsor $150 million in protection, so falling short of its upper-target, with pricing seeming to be prioritised.Read the full article
Investment giant Blackstone has returned to the catastrophe bond market for the second time, seeking a $250 million or greater source of multi-peril and indemnity based catastrophe insurance protection for risks held by its real estate funds, from this Wrigley Re Ltd. (Series 2023-1) cat bond deal.Read the full article
The recently launched and still in the market Acorn Re Ltd. (Series 2023-1) parametric earthquake catastrophe bond transaction has had its target lifted to now as much as $175 million, while at the same time the pricing has been slashed.Read the full article
A new parametric earthquake catastrophe bond transaction with a $100 million initial target, named Acorn Re Ltd. (Series 2023-1), will be the first in this series where its coverage will overlap with an existing issuance, presumably reflecting a desire to stagger maturity of catastrophe reinsurance coverage for the beneficiaries.Read the full article
Investment giant Blackstone is increasingly focusing on the need to manage risks within its various real estate companies and assets, using risk transfer solutions, insurance and instruments such as catastrophe bonds and insurance-linked securities (ILS).Read the full article
Prologis, Inc., the logistics, warehousing and supply-chain focused real estate owner and investor that sponsored its first catastrophe bond in December, a $95 million Logistics Re Ltd. (Series 2021-1) cat bond, has highlighted the support of Hemant Shah’s artificial intelligence property data and analytics firm, Archipelago.Read the full article
The first catastrophe bond from logistics, warehousing and supply-chain focused real estate owner and investor Prologis, Inc. has now been priced at the top-end of initial guidance, while the issuance size remained at $95 million for the Logistics Re Ltd. (Series 2021-1) cat bond issuance.Read the full article