Insurance linked securities news, ILS news

Global consultancy Bain & Company has highlighted access to alternative sources of capital and the use of insurance-linked securities (ILS) as one of the key factors for insurers to consider as they look for success in what the company calls “a radically different future.”

Securian Financial Group life insurance subsidiary, Minnesota Life Insurance Company has returned to the insurance-linked securities (ILS) market to sponsor its second mortality catastrophe bond transaction, seeking another $100 million or more of capital markets backed extreme mortality reinsurance with a La Vie Re Limited (Series 2021-1) issuance.

We are delighted to announce to all our readers that we are returning to New York for an in-person conference on February 4th 2022, with ILS NYC 2022 registration now open and tickets available.

Twelve Capital Management, the Zurich-headquartered catastrophe bond, insurance-linked securities (ILS) and reinsurance linked investment fund manager, has promoted Dinesh Pawar as its new CEO of UK operations.

Both tranches of Safepoint Insurance Company’s most recent catastrophe bond, the $40 million Manatee Re III Pte. Ltd. (Series 2019-1) transaction, have now been marked down significantly in the secondary market on potential losses of principal driven by hurricane Ida’s impacts.

Louisiana Citizens Property Insurance Corporation has reported an estimated loss from hurricane Ida of around $461 million, but thanks to its low retention on its reinsurance tower and its catastrophe bonds, the residual market insurer will only retain $35 million.

Goldman Sachs has made a new hire within its investment banking Insurance Structured Finance team, adding Tony Nguyen, an experienced insurance-linked securities (ILS) structurer who most recently worked at Swiss Re.

Google’s holding company parent Alphabet, Inc. has returned to the catastrophe bond market for the third time, as it seeks to add another $250 million or more of California earthquake risk protection to its insurance arrangements with the help of insurance-linked securities (ILS) investors in a Phoenician Re Ltd. (Series 2021-1) issuance.

The industry-loss warranty (ILW) focused mutual fund strategy offered by investment adviser City National Rochdale (CNR) increased its net assets during the last quarter of record and the share price of the exchange traded fund (ETF) has been rising over recent weeks.

Markel Corporation has decided to wind down its retrocessional reinsurance focused insurance-linked securities (ILS) fund manager, Lodgepine Capital Management, citing retro market headwinds and a challenging fundraising environment.