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.

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Blackstone sees cat bonds & ILS as real estate risk transfer options

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). Blackstone is one of the biggest investment groups in the world and has a global real read the full article →

Prologis highlights Archipelago support for its first catastrophe bond

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. Shah, the founder and former read the full article →

Logistics Re cat bond priced at top-end of guidance for sponsor Prologis

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. Prologis ventured into the catastrophe bond read the full article →

Prologis’ Logistics Re cat bond sees pricing narrow towards upper-end

The first catastrophe bond from logistics, warehousing and supply-chain focused real estate owner and investor Prologis, Inc. has seen its pricing guidance tighten towards the upper-end, while the issuance size remains at $95 million for the Logistics Re Ltd. (Series 2021-1) cat bond issuance. Prologis entered the catastrophe bond market for read the full article →

Google’s new catastrophe bond to settle at $275.5m

Google and its holding company parent Alphabet, Inc. have now successfully secured $275.5 million of California earthquake risk protection from their new catastrophe bond, the Phoenician Re Ltd. (Series 2021-1) issuance. It's fallen a little short of the revised top-end target of $285 million, but with pricing at a much lower read the full article →

Alphabet (Google) aims to upsize third catastrophe bond to $285m

Google’s holding company parent Alphabet, Inc. is hoping to upsize its third catastrophe bond transaction to provide it with as much as $285 million of California earthquake risk protection from the Phoenician Re Ltd. (Series 2021-1) issuance. At the same time, we're told that the pricing for the $250 million to read the full article →

Alphabet (Google) targets $250m+ third quake catastrophe bond

Google's holding company parent Alphabet, Inc. has returned to the catastrophe bond market for the third time, as it seeks to add another $250 million or more of California earthquake risk protection to its insurance arrangements with the help of insurance-linked securities (ILS) investors in a Phoenician Re Ltd. (Series read the full article →

Acorn Re parametric quake cat bond target raised to $475m

The target size for the second renewal of the parametric catastrophe bond that provides earthquake related workers compensation protection to benefit the Kaiser Permanente health group has been increased, with the Acorn Re Ltd. (Series 2021-1) transaction now expected to secure $475 million of capital market-backed capacity for the covered read the full article →

Sempra to secure minimum $180m size for SD Re wildfire cat bond

Electrical utility Sempra Energy looks set to secure its third slice of catastrophe bond backed wildfire insurance protection at the minimum targeted issuance size of $180 million, while pricing for its new SD Re Ltd. (Series 2021-1) transaction is on-track to settle at the mid-point of guidance. Sempra Enery returned to read the full article →

$400m renewal of Acorn Re parametric US quake cat bond targeted

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. This Acorn read the full article →