Insurance linked securities news, ILS news

US primary insurer Allstate has now finalised one of the largest catastrophe bonds in its history, with its new Sanders Re II Ltd. (Series 2024-3) issuance now priced to provide the company $650 million of reinsurance protection, some 86% more than the initial target for this deal.

There is now less than two months to go until our upcoming Artemis ILS NYC 2025 conference in New York on February 7th next year, and today we are delighted to announce four more expert speakers you can hear from on the day, if you register to attend our event.

The Board of the Texas Windstorm Insurance Association (TWIA) has today approved a $485 million budget line item for ceded reinsurance and catastrophe bond spend for 2025, which is up 22% on the $397 million spent on protection for 2024.

Having come to market with one unsized tranche of notes, Liberty Mutual’s new Mystic Re IV Ltd. (Series 2025-1) catastrophe bond issuance has now been fully-sized, with a target set for $325 million of indemnity reinsurance on both an occurrence and aggregate basis, Artemis understands.

Insurance and reinsurance broker Aon has promoted Ciaran Healy to the role of Global Captive Leader for the firm’s Commercial Risk Solutions division, a position that will see him also with responsibility for the management of insurance-linked securities (ILS) and protected cell structures as well.

Mapfre Re has now successfully priced its debut catastrophe bond, with the Recoletos Re DAC (Series 2024-1) issuance now secured to provide the reinsurance company with an upsized $125 million of retrocession, with the notes priced below the initial guidance range that had been offered.

American Family Mutual Insurance Company (AmFam) has for the second time raised the target size of its latest catastrophe bond, with now $275 million in collateralized reinsurance protection being sought from the Four Lakes Re Ltd. (Series 2024-1) cat bond issuance, Artemis has learned.

Further reflecting the high-demand for new catastrophe bond issues at this time, the Armor Re II Ltd. (Series 2024-2) issuance for sponsor American Coastal Insurance Company (AmCoastal) has increased in size again, with now up to $200 million in Florida named storm reinsurance protection sought.

Catastrophe bond funds in the UCITS format tracked by the Plenum CAT Bond UCITS Fund Indices averaged a 1% return for November, taking their year-to-date return to an average of 12.57%.

As the Atlantic hurricane season drew to its close, the overall yield of the catastrophe bond market continued its typical seasonal declining trend, albeit at a slightly slower pace as there were also supply-demand factors evident in the market, but still by the end of November 2024, the cat bond market yield stood at a […]