Insurance linked securities news, ILS news

There are now only two weeks left until our ILS Asia 2023 conference, held on July 13th in Singapore and we’re getting excited as the day approaches. Please register soon to ensure attendance.

As we reported back in April, the European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) have highlighted the use of catastrophe bonds as critical to support the supply of catastrophe insurance and reinsurance across the region, while also proposing issuance is brought closer to home.

The reinsurance market is viewed as the most exciting segment for underwriting at this time, but there is a recognition that should rates continue to rise in 2024, then there is likely to be more meaningful capital entry.

Schroders Capital has launched a new catastrophe bond fund that has been designed as an offering for US investors, raising $70 million from two clients earlier this month for the Schroders Capital Coda Fund.

In advance of the end of the quarter, Artemis can now report that issuance of property catastrophe bonds in the first-half of 2023 will close out June at an all-time high for the period of almost $9.7 billion, which beats the full-year total from 2022 and sets a new record for any half-year of cat […]

Slide Insurance Company has now finalised the pricing for its second catastrophe bond, with the $100 million Purple Re Ltd. (Series 2023-2) transaction secured with a spread roughly 9% below the initial mid-point of guidance.

Oxbridge Re Ltd., the Cayman Islands based reinsurance firm with a Gulf Coast risk focus, has successfully raised $2.4 million through the sale of digital or tokenized reinsurance securities named DeltaCat Re, which will be used to support collateralized reinsurance contracts underwritten via its sidecar structure, Oxbridge Re NS.

The Florida State Board of Administration, which manages the huge and roughly $180 billion Florida Retirement System Pension Plan, looks set to increase the size of its allocation to insurance-linked securities (ILS).

The $50 million of Integrity Re Ltd. (Series 2019-1)  catastrophe bond notes sponsored by US primary insurer American Integrity have now had their maturity date extended out, as they continue to have potential exposure to the ongoing development of losses from last year’s hurricane Ian.

Parametric insurance solutions continue to be more broadly adopted, but the technology behind their triggers is also critical and solutions are developing fast, Callum Higgins from Moody’s RMS and Martin Hotz from Swiss Re Corporate Solutions explained in a recent video interview.