Cyber ILS – Cyber Insurance-Linked Securities news

We’re told that the price guidance has been raised for the first industry-loss triggered cyber catastrophe bond deal, which is being sponsored by reinsurance firm Swiss Re, while the size of the Matterhorn Re Ltd. (Series 2023-1) transaction remains at $50 million so far.

DeNexus, a specialist provider of cyber risk quantification tools and software, has announced the hiring of George Mawdsley as the firm’s first Head of Risk Solutions, joining from his most recent role at ILS manager Securis Investment Partners.

Chubb has now successfully secured the 50% upsizing of its first cyber catastrophe bond Artemis has learned, with the East Lane Re VII Ltd. (Series 2024-1) transaction now priced to provide the company $150 million in cyber reinsurance protection.

International re/insurance giant Chubb is aiming to upsize its first cyber catastrophe bond deal by as much as 50%, Artemis has learned, with the East Lane Re VII Ltd. (Series 2024-1) transaction now targeted to provide the company $150 million in cyber reinsurance.

After Beazley pioneered the first privately placed cyber catastrophe bonds, it has been “pleasing” to witness recent cyber cat bond market developments, as the first 144A transactions came to market, Paul Bantick, Global Head of Cyber Risks at Beazley has said.

Over the next two decades, as the cyber insurance and reinsurance market grows, there is the potential for cyber insurance-linked securities (ILS) volumes to reach $100 billion, equalling where catastrophe risk in the capital market sits today, according to Mike Millette, Managing Partner at Hudson Structured Capital Management Ltd., and Board Member at CyberCube.

Beazley has now successfully priced its debut 144A cyber catastrophe bond issuance, with the PoleStar Re Ltd. (Series 2024-1) deal confirmed to provide the company with $140 million of cyber reinsurance, while the notes priced within but at the top-end of initial guidance.

Beazley has for a second time increased the target size of its debut 144A cyber catastrophe bond issuance, with the PoleStar Re Ltd. (Series 2024-1) deal now aimed to secure $140 million of cyber reinsurance for the company.

Global reinsurance giant Swiss Re is bringing the first industry-loss triggered cyber catastrophe bond to market, seeking $50 million of retrocession against systemic cyber loss events through a Matterhorn Re Ltd. (Series 2023-1) transaction.

This video features a fascinating panel discussion on developments in cyber catastrophe bonds from our Artemis London 2023 catastrophe bond and insurance-linked securities (ILS) conference, that was held in London on September 5th 2023.