Insurance linked securities news, ILS news

The January 2022 reinsurance renewals have seen some of the best market conditions in years, with broad firming of rates across property catastrophe lines and retrocession that promise to enable underwriters and ILS fund managers to deliver improved returns, on an average calendar year loss basis.

Global reinsurance giant Hannover Re has facilitated the issuance of another $84.5 million of Seaside Re private catastrophe bonds for 2022, with another eight issuances from its Kaith Re transformer vehicle coming to light.

Global reinsurance firm Swiss Re, through its specialist insurance-linked securities (ILS) fund management unit Swiss Re Insurance-Linked Investment Management Ltd (SRILIM), has secured a US $250 million investment into its 1863 ILS fund platform from the largest Swedish private pension Alecta.

The fraud lawsuit involving former CATCo CEO Tony Belisle has been stayed pending a Bermuda Supreme Court decision on the insolvency and winding-down of the Markel CATCo retrocessional reinsurance funds.

We can now report that it was Toa Re Europe, the Switzerland-based European reinsurance arm of Japanese group Toa Reinsurance Company Ltd., that sponsored the recent $25 million Artex SAC Limited – Silver Crane Notes private catastrophe bond transaction, as it looks to expand its relationships with ILS investor markets.

For the first time on-record, annual issuance of privately placed catastrophe bond transactions has surpassed $1 billion in 2021, as these more streamlined insurance-linked securities (ILS) arrangements continued to play an important role for some protection buyers, ILS funds and investors.

The government of Indonesia continues to work towards better management of its natural disaster risks and, with the assistance of the World Bank, there is a target to have a sovereign risk transfer or disaster insurance structure in place by 2024.

Here are the ten most popular news articles, week ending January 9th 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.

The insurance-linked securities (ILS) investment industry is experiencing a shift driven by changing investor priorities and this is playing to the strengths of firms with deep expertise such as Hiscox, according to Vincent Prabis.

Validus, one of the AIG reinsurance brands under AIG Re, is the first to complete a 144A catastrophe bond issuance in 2022, starting the year off with a successful $400 million Tailwind Re Ltd. (Series 2022-1) transaction, that renews a capital market backed source of retrocession for the company.