Insurance linked securities news, ILS news

The North Carolina Joint Underwriting Association (NCJUA) has returned to the catastrophe bond market for the first time since 2013, seeking $125 million of more in aggregate named storm reinsurance from this Longleaf Pine Re Ltd. (Series 2024-1) issuance.

Aspen has now priced and finalised its latest catastrophe bond issuance, securing $300 million of multi-peril retrocessional reinsurance from the upsized Kendall Re Ltd. (Series 2024-1) transaction.

Issuance of property catastrophe bonds, bonds exposed to other lines such as health and related private cat bond deals tracked by Artemis in our Deal Directory has now reached $7 billion for 2024 so far, but of that total some 82% is exposed to Atlantic hurricane risks showing just how important the peril is to […]

Some $131.25 million of Hannover Re’s Seaside Re private catastrophe bonds have had their maturity dates extended further into 2024, as uncertainty continues over many of the 2021, 2022 and 2023 vintage deals.

Here are the ten most popular news articles, week ending April 21st 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Citizens Property Insurance Corporation is seeking what could be its biggest catastrophe bond ever, with an initial target of some $850 million of notes offered via a dual-series Everglades Re II Ltd. (Series 2024-1 & 2024-2) issuance, but with both two and three year note series available it looks like market appetite will decide the […]

Louisiana Citizens Property Insurance Corporation has now secured the upsized $275 million of collateralized named storm reinsurance from its new Bayou Re Ltd. (Series 2024-1) catastrophe bond as pricing was finalised at the low-end of reduced guidance, with the deal becoming its largest cat bond to-date.

In a further sign that catastrophe bond pricing could be at or approaching the bottom, for now at least, while Aspen has significantly increased the target size for its new Kendall Re Ltd. (Series 2024-1) transaction to as much as $300 million, the pricing for both tranches of notes has risen relatively significantly as well.

US primary insurer Allstate added $343 million of catastrophe losses in the month of March, taking its Q1 2024 cat loss total to $731 million, suggesting further erosion of the retention under the firm’s aggregate reinsurance cat bond coverage, although the data suggests that the tranches of notes do appear safe from actual losses.

The portfolio of insurance-linked securities (ILS) and reinsurance investments managed by PGGM, the Dutch pension investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, has shrunk in size by roughly 6% over the first-quarter of 2024.