Insurance linked securities news, ILS news

Here are the ten most popular news articles, week ending February 27th 2022, 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.

As Swiss Re grows its natural catastrophe exposures, which CEO Christian Mumenthaler today called “a core competence”, the company is benefiting from its expanding use of alternative reinsurance capital and insurance-linked securities (ILS), CFO John Dacey explained.

Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has announced the hiring of Alaina Cubbon as a Vice President, Portfolio Management, in the firm’s Bermuda based Investment Team.

ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, is back in the catastrophe bond market with a US named storm focused issuance and is seeking $135 million or more in collateralized reinsurance protection from a Bonanza Re Ltd. (Series 2022-1) transaction.

Swiss Re is back in the catastrophe bond market to sponsor its first issuance of the year and in a shift from the recent occurrence cat bonds it has sponsored, this new deal sees the reinsurance giant looking for $200 million or more in annual aggregate retrocessional protection with a Matterhorn Re Ltd. (Series 2022-1) […]

Hiscox ILS, the insurance-linked securities (ILS) and collateralised reinsurance underwriting unit of specialist underwriter Hiscox Group, had a successful renewals and now targets growth in 2022, with some additional assets raised for 1/1, Vincent Prabis explained in a recent video interview.

The U.S. Federal Emergency Management Agency (FEMA) has hailed the successful completion of the issuance of its new $450 million  FloodSmart Re Ltd. (Series 2022-1)  catastrophe bond, which has expanded the capital markets participation in the National Flood Insurance Program’s (NFIP) reinsurance tower.

The Markel CATCo retrocessional reinsurance investment funds are seeking support from the US bankruptcy courts for the proposed buyout schemes, which is seen as a precondition for the buyout proceedings moving forwards.

US primary insurance carrier Allstate has revealed making $1.37 billion of recoveries under its catastrophe reinsurance arrangements during calendar year 2021, $300 million of which came after a full exhaustion of its Sanders Re II 2019-1 catastrophe bond transaction.

In announcing its results this morning, global reinsurance giant Munich Re cited two factors that helped to improve market conditions and provided opportunities for growth, increasing demand for protection and tightened capacity, in particular from alternative market sources.