Insurance linked securities news, ILS news

Last year, Bermuda-based insurance and reinsurance company use of insurance-linked securities (ILS) such as catastrophe bonds increased, according to survey data collected by the Bermuda Monetary Authority (BMA).

German insurer Versicherungskammer Bayern Versicherungsanstalt des oeffentlichen Rechts’ (VKB) has now successfully priced its debut King Max Re DAC 2023 catastrophe bond issuance to provide it with an upsized €175 million of multi-peril catastrophe reinsurance protection.

American Family Mutual Insurance Company, or AmFam as it is known, has now secured the upsized $175 million in capital market backed multi-peril catastrophe reinsurance from its new Four Lakes Re Ltd. (Series 2023-1)  catastrophe bond.

Here are the ten most popular news articles, week ending December 10th 2023, 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.

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.

Today, we are delighted to reveal the first wave of speakers confirmed for our next insurance-linked securities (ILS) conference. ILS NYC 2024 will be held in New York City on February 9th 2024, with around 400 attendees from the ILS community expected to come together for a day of thought-leadership, discussion and valuable networking.

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.

Having returned to the catastrophe bond market last month, global insurance giant Allianz is still on track to secure at least €250 million in European windstorm reinsurance protection with its Blue Sky Re DAC (2023-1) cat bond issuance, while the price guidance has been narrowed towards the upper-end of the marketed range.

The recently completed issuance of a debut Taranis Reinsurance DAC 2023 catastrophe bond for Crédit Agricole subsidiary insurer Pacifica was part of a drive to add more diversification to its reinsurance program, the company said this morning.

Insurer Liberty Mutual has raised its target size for its new Mystic Re IV Ltd. (Series 2024-1) industry-loss triggered catastrophe bond, with now $300 million of reinsurance sought from the issuance.