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Insurance debt remains attractive, refinancing need drives opportunity

The debt issuances of insurance and reinsurance carriers remain an attractive option for investors even under the shadow of the Covid-19 pandemic and there could be more opportunity to come. Insurance and reinsurance company debt issues, private or otherwise, remain an asset that certain insurance-linked securities (ILS) fund managers allocate capital read the full article →

Cohen & Co. raises €375m for insurance debt investments

Fixed income financial services investment specialist Cohen & Company, LLC has raised €375 million for new investment funds focused on provision of subordinated debt to the insurance and reinsurance sector in Europe. Cohen & Company has been investing in subordinated insurance debt over recent years, as part of its growing practice read the full article →

Plenum launches UCITS fund with cat bond & insurance debt focus

Plenum Investments AG, the Zurich based specialist insurance-linked securities (ILS) and catastrophe bond investment manager, has launched the Plenum Insurance Capital Fund, a UCITS ILS fund that will allocate to both catastrophe risks and subordinated insurance debt instruments. The move follows a recent announcement of senior hires at Plenum Investments with read the full article →

Fermat backs €6m private debt transaction for Gefion Insurance A/S

Fermat Capital Management, LLC, the insurance-linked securities (ILS) and catastrophe bond focused investment manager, has completed a second private debt arrangement for Danish non-life insurer Gefion Insurance A/S with a new €6 million transaction. Fermat completed a €10 million private subordinated debt placement for Gefion Insurance A/S back in 2017 and read the full article →

Multi-asset class approach provides flexibility, synergies: Twelve Capital’s Ramseier

The multi-asset class approach adopted by independently owned insurance and reinsurance linked specialist investment fund manager, Twelve Capital, allows flexible capital allocation while taking advantage of significant synergies. This is according to Twelve Capital Founding Partner, Chief Executive Officer & Chief Investment Officer, Urs Ramseier. Speaking with Artemis, he explained why the read the full article →

Palomar raises IPO ambitions, aims for $97m to $110m

Speciality California-based catastrophe exposed property insurer Palomar Insurance Holdings has raised its target for an impending Nasdaq initial public offering (IPO), hoping to raise as much as $110 million at the top-end of its share price estimates. Palomar Insurance Holdings had been targeting an IPO capital raise of around $50 million, read the full article →

Palomar seeks $50m IPO, will repay Fermat & Cohen debt investments

Palomar Insurance Holdings, the speciality California-based insurer that provides largely catastrophe exposed property covers, as seeking to raise $50 million in a Nasdaq initial public offering (IPO), adding to the $20 million it raised in a debt issuance invested in by ILS specialists Fermat Capital Management and investor Cohen & read the full article →

Heritage to redeem private debt from Fermat & Hudson Structured

Heritage Insurance Holdings, Inc. is changing its capital structure, adding a new $125 million credit facility, the proceeds of which will be used to redeem previous financing including private debt that ILS specialists Fermat Capital Management and Hudson Structured had invested in. The U.S. primary property and casualty insurance group said read the full article →

Twelve Capital appoints fund distribution consultancy Harrington Cooper

Twelve Capital has entered into a new distribution arrangement for its range of insurance, reinsurance and catastrophe bond investment strategies with fund distribution consultancy Harrington Cooper. The arrangement will see Harrington Cooper distributing the full range of Twelve Capital insurance and reinsurance linked investment products across the UK and in French-speaking read the full article →

Alpha run-off shows a risk of private debt investing for ILS funds

Danish registered insurance company Alpha Insurance A/S (Alpha) has been placed into solvent liquidation and told to stop underwriting, placing its portfolio into run-off, with the circumstances highlighting what could have been a risk for a €20 million private insurance debt transaction between it and investment manager Twelve Capital. Swiss headquartered read the full article →