Cyber ILS – Cyber Insurance-Linked Securities news

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.

Taking into account the needs of insurance-linked securities (ILS) investors was a critical component of the work to get the industry’s first cyber catastrophe bond to market, and it was important to ensure the sponsor AXIS Capital’s coverage needs were also met, Kyle Freeman told Artemis in an interview.

Beazley, the London headquartered specialty insurance and reinsurance underwriter, is aiming to significantly increase the size of its debut 144A cyber catastrophe bond issuance,  with the PoleStar Re Ltd. (Series 2024-1) now targeted to secure the company $130 million of cyber reinsurance, a 73% upsizing from the initial offering size.

Swiss-headquartered fintech Cerchia has continued to build momentum around its capital markets focused direct risk transfer platform, with a particularly notable cyber trade, that saw a cyber industry-loss warranty (ILW) transacted using a PCS Global Cyber industry-loss index trigger.

With AXIS Capital’s landmark $75 million Long Walk Reinsurance Ltd. (Series 2024-1) 144A cyber catastrophe bond issuance having closed this week, CFO Peter Vogt told Artemis that this opens up a new strategic capital source, that can support AXIS’ continued growth in cyber underwriting.

Artemis has learned that a third full 144A cyber catastrophe bond is now in the market and this latest issuance is being sponsored by international insurance giant Chubb, as the company returns to the cat bond market for the first time since 2015, seeking $100 million or more in cyber reinsurance protection from an East […]

AXIS Capital saw its landmark $75 million Long Walk Reinsurance Ltd. (Series 2023-1) 144A cyber catastrophe bond settle yesterday and CFO Peter Vogt hailed the support of the insurance-linked securities (ILS) investor community.

Envelop Risk’s Capital Markets business continues to gain traction and the firm is close to deploying capital markets capacity via its Augmented Re Class 3A Reinsurer, says Co-Founder and Chief Executive Officer (CEO), Jonathan Spry.

AXIS Capital, the Bermuda headquartered specialty re/insurer, has now successfully priced the very first 144a cyber catastrophe bond and the $75 million Long Walk Reinsurance Ltd. (Series 2024-1) transaction will complete with pricing below the initial target guidance, an important signal of ILS market appetite for cyber risks.

Beazley, the London headquartered specialty insurance and reinsurance underwriter, has now entered the 144A catastrophe bond market with its first cyber deal, seeking $75 million in reinsurance from this PoleStar Re Ltd. (Series 2024-1) cyber cat bond issuance, Artemis can report.