London Bridge 2 PCC Ltd. news

Highlighting achievements from 2024 when $1.92 billion of capital was deployed through the Lloyd’s insurance-linked securities (ILS) structure, Deputy CFO Alexandra Cliff said today that the pipeline for the London Bridge platform remains healthy.

Brit Limited, the specialty insurance and reinsurance player and part of the Fairfax group, is now aiming to secure its new catastrophe bond coverage at reduced pricing, as the still $100 million Lapis Series 2025-1 industry-loss triggered multi-peril deal has seen its price guidance lowered, Artemis has learned.

Perry Thomas, Chief Executive Officer (CEO) of Flood Re, has announced the successful completion of the company’s debut catastrophe bond, the £140 million London Bridge 2 PCC Limited (Vision 2039 – 2025-1) issuance, stating that it represents an “innovative transaction” that strengthens the firm’s reinsurance programme and enhances protection for UK households against flooding.

Flood Re, the state-backed flood reinsurance pool in the United Kingdom, has now secured the targeted £140 million in fully-collateralized UK flood retrocessional reinsurance from its debut catastrophe bond, the London Bridge 2 PCC Limited (Vision 2039 – 2025-1) issuance, with the notes priced at the top-end of initial guidance.

Brit Limited, the specialty insurance and reinsurance player and part of the Fairfax group, has returned to the catastrophe bond market for the first time since 2020, seeking $100 million or more in protection from a Lapis Series 2025-1 arrangement that is being issued using the Lloyd’s ILS structure London Bridge 2 PCC, Artemis has […]

Flood Re, the state-backed flood reinsurance pool in the United Kingdom, has increased the target size for its debut catastrophe bond, with now UK £140 million in fully-collateralized flood retrocessional reinsurance sought from the London Bridge 2 PCC Limited (Vision 2039 – 2025-1) transaction.

Flood Re, the state-backed flood reinsurance pool in the United Kingdom, has entered the catastrophe bond market in search of £100 million in fully-collateralized UK flood retrocessional reinsurance, with a London Bridge 2 PCC Limited (Vision 2039 – 2025-1) transaction.

At the January 2025 reinsurance renewals, AIG improved the terms of its aggregate catastrophe reinsurance protection, lowering the deductible in North America, CEO Peter Zaffino has said, while he also explained that the recent third-party capitalised syndicate launch is expected to drive fee income for the company.

Lloyd’s of London CFO Burkhard Keese is to depart the market to focus on investment roles in the German insurance sector, but he is set to remain a strategic advisor with a focus on developing the risk transfer vehicle London Bridge 2.

The Lloyd’s insurance and reinsurance market has reported that its London Bridge risk transformation and insurance-linked securities (ILS) platform has now seen $1.92 billion of capital deployed through its cells, with $2.55 billion of capital committed.