Private cat bond news

Private catastrophe bond issuance continues apace in time for the January 2020 reinsurance renewals, with a new $50.26 million cat bond lite issuance taking the 2019 total for these more privately placed deals just over $900 million, according to Artemis data.

Hannover Re, the top-four global reinsurance firm, has facilitated issuance of another $27 million of private catastrophe bonds under the Seaside Re program, as it continues to help ceding companies and investors transact ILS deals in securitised note form.

Germany headquartered global reinsurance company Hannover Re has brought another private catastrophe bond transaction to market, with a $50 million Seaside Re (Series 2020-51) transaction now completed.

Hannover Re, the German reinsurance company, has facilitated a renewal of a $10 million private catastrophe bond exposed to California earthquake risks, using its Kaith Re segregated accounts vehicle.

Randolph Re, a new private catastrophe bond issuance and placement platform has been launched by the capital market’s arm of insurance and reinsurance broker Aon.

For the first time (that we’ve seen) one of the Dodeka series of private catastrophe bonds issued on behalf of specialist insurance and reinsurance linked fund manager Twelve Capital has had its maturity date extended.

Cincinnati Financial Corporation’s aggregated catastrophe and severe weather losses continued to rise through the third-quarter of 2019, with the total after deductibles now reaching reach 79% of the way to the trigger attachment point of its $180 million Skyline Re Ltd. (Series 2017-1) catastrophe bond.

Cerulean Re SAC Ltd., the private catastrophe bond and insurance-linked securities (ILS) issuance vehicle operated by reinsurance broker Guy Carpenter and Marsh Captive Solutions, has completed another transaction, a $25 million Cerulean Re SAC Ltd. (Series 2019-E1) issuance.

A $70 million parametric Japanese earthquake private insurance-linked securities (ILS) transaction has been issued using Aon Insurance Managers segregated accounts company White Rock.

Cincinnati Financial Corporation’s aggregated catastrophe and severe weather losses over the first-half of 2019 have been sufficiently severe to reach 74% of the way towards the trigger attachment point of its $180 million Skyline Re Ltd. (Series 2017-1) catastrophe bond.