Private cat bond news

The Artex Risk Solutions owned segregated account reinsurance transformer platform, Artex SAC Limited, has completed issuance of the first private catastrophe bond seen from the vehicle in 2020, with a $30 million Artex SAC Limited – Tenby Notes transaction.

The catastrophe bond market saw continued positive momentum throughout the third-quarter of 2020 and despite continued financial market uncertainty and volatility as a result of the Covid-19 pandemic, the result was an above-average quarter of issuance, according to the latest report and data from Artemis.

Isosceles Insurance Limited, the transformer and segregated cell structure operated by Marsh & McLennan Companies and reinsurance broker Guy Carpenter to issue privately placed insurance-linked securities or catastrophe bonds has completed issuance of another transaction.

A $50.25 million private catastrophe bond transaction has been issued around the July renewal by broker Aon’s private catastrophe bond issuance and placement platform Randolph Re.

This almost $16.5 million Isosceles Insurance Ltd. (Series 2020-A1) transaction is the first private insurance-linked securities (ILS) arrangement or catastrophe bond from the Marsh & McLennan Companies and reinsurance broker Guy Carpenter operated Isosceles Insurance Limited  transformer and segregated cell structure.

The maturity dates for two private catastrophe bonds that were issued through the Willis Towers Watson operated Resilience Re Ltd. platform have been extended by another year, to allow for ongoing development of losses to the subject business.

A new approximately $18.3 million Asagao II Japanese private catastrophe bond transaction has come to market using the Aon Insurance Managers operated segregated accounts company White Rock Insurance SAC.

Another of the Dodeka series of private catastrophe bonds, issued for ILS and reinsurance focused investment manager Twelve Capital, has had its maturity extended, likely to allow for a cedent’s catastrophe loss development to continue.

The use of rented transformer platform structures for insurance-linked securities (ILS) and private catastrophe bond transaction issuance continues to expand and a new Isosceles Re offering from Marsh & McLennan Companies and reinsurance broker Guy Carpenter is set to help make issuance of 4(2) securities more simple.

Cat bond lite issuance surpassed $900 million for the third consecutive year in 2019, as a record-breaking 29 transactions came to market, according to the Artemis Deal Directory.