Insurance linked securities news, ILS news

The Artex Capital Solutions managed Eclipse Re Ltd. structure has issued a new private catastrophe bond transaction, a $25 million Eclipse Re Ltd. (Series 2024-2A) deal.

Records continue to be broken in the catastrophe bond market in 2024 and it’s now clear that May is set to become the biggest single month of new catastrophe bond issuance on-record, with a chance of becoming the first time any month has surpassed $4 billion of newly issued cat bonds.

The catastrophe bond market underwent a further phase of spread widening in the last week, with industry-loss index trigger cat bonds leading the way again and now, the wider spreads are being cited as an opportunity for investors to enter the market by Icosa Investments.

New rules have been implemented in the United States by the Securities and Exchange Commission (SEC) that shorten the standard settlement cycle for most broker-dealer transactions from the current “T+2” to “T+1”, but in our discussions with catastrophe bond trading desks and market participants, the general feeling is one of readiness.

The government of Puerto Rico is seeking $75 million in parametric insurance protection against the financial impacts of named storms and earthquakes from the capital markets, through a new Puerto Rico Parametric Re Ltd. (Series 2024-1) catastrophe bond transaction, Artemis has learned.

Here are the ten most popular news articles, week ending May 26th 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.

This video features an expert panel discussing cyber catastrophe bond market trends at our Artemis ILS NYC 2024 conference, which was held in New York on February 9th 2024.

French global reinsurance company SCOR has now successfully upsized its latest catastrophe bond by 40% to secure $175 million of retrocession from the Atlas Capital DAC (Series 2024-1) deal, while the pricing settled just above initial guidance, showing the risk adjustments made appear to have had the desired effect.

In a string of research reports, the World Bank Group and European Commission call on governments across Europe to utilise more in the way of disaster risk transfer and insurance to reduce the pressure from weather and natural perils on budgets, including the use of catastrophe bonds to access capital market investors for reinsurance risk […]

The US weather service NOAA and the UK’s Met Office have both issued forecasts that join others in suggesting the 2024 Atlantic hurricane season will be a very active one, with each opting for storm numbers well above the average and NOAA saying it looks likely to be an “extraordinary” year.