Insurance linked securities news, ILS news

A steering group has been formed by UK insurance and reinsurance industry leaders with Stephen Catlin of Convex as Chair, to work with UK government backed mutual terrorism reinsurance firm Pool Re to strengthen the industry’s response to future pandemics.

Global reinsurance company Swiss Re is back with what will be its fourth catastrophe bond in less than one year, as it seeks another $200 million or greater of U.S. named storm retrocessional support from the capital markets with Matterhorn Re Ltd. (Series 2020-3).

Louisiana Citizens Property Insurance Corporation, the non-profit state mandated insurer of last resort, is back in the catastrophe bond market for its first transaction located in Singapore, with a currently $50 million Catahoula Re Pte. Ltd. (Series 2020-1) deal.

Leading United States life, retirement and annuities insurance and reinsurance company Global Atlantic explained to us that it sees its newly launched life and annuity co-investment vehicle named Ivy as akin to the sidecars that are a feature of the insurance-linked securities (ILS) market.

The majority of analysts and observers do not believe that the reinsurance and insurance-linked securities (ILS) industry faces a tidal wave of business interruption claims as a result of the coronavirus pandemic.

The two Guernsey domiciled rated reinsurance vehicles managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team have had their ratings affirmed and their underwriting strategies tweaked to reduce the volatility in their results going forwards.

Here are the ten most popular news articles, week ending 19th April 2020, 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 World Bank issued pandemic catastrophe bonds and pandemic risk-linked swaps have now been triggered and will pay out $195.84m, we’ve learned today, after the final trigger parameter of the growth-rate of coronavirus cases turned positive.

The mid-year reinsurance renewal season is set for further firming of premium rates as market conditions help to sustain and perhaps accelerate recent trends, something Leadenhall Capital Partners CEO Luca Albertini says is evident in early Firm Order Terms.

Two very senior insurance and reinsurance market leaders have warned that the sector is already facing “massive” losses from the Covid-19 coronavirus pandemic and that any forcing of business interruption claims on top of that could “bankrupt” the industry.