Private cat bond news

Privately placed catastrophe bond transactions, also known as cat bond lites, have grown both in terms of size and utilisation since their introduction to the market back in 2011, with almost $2 billion of new risk capital issued over the last two years being privately placed.

The successful completion of the third private catastrophe bond transaction between AIG owned fund manager AlphaCat Managers, Ltd. and reinsurer Terra Brasis Resseguros S.A. demonstrates that ILS has become established in the Latin American region, the pair said. The two firms successfully completed the third issuance of the $5 million private catastrophe bond transaction recently, […]

There has been another successful renewal of the private catastrophe bond sponsored by Latin American reinsurance firm Terra Brasis Re, which is underwritten and invested in by AlphaCat Managers, with a $5 million Alpha Terra Validus III transaction issued for 2019.

Specialist insurance-linked securities (ILS) and reinsurance investments manager Twelve Capital has successfully completed issuance of $76.8 million of new private catastrophe bonds through its Dodeka series of transactions.

Hannover Re has continued its prolific level of private catastrophe bond activity around the reinsurance renewals with the completion and issuance of another two Seaside Re cat bond lites amounting to $40 million in the first week of January.

Resilience Re Ltd., the private catastrophe bond issuance platform owned and operated by insurance and reinsurance broker Willis Towers Watson, has completed its first issuance of the new year, with an issuance of $88 million zero coupon Resilience Re Ltd. (Series 1912A) notes.

Yet another private catastrophe bond, or cat bond lite, has been issued through the Kaith Re Ltd. Bermuda domiciled segregated accounts vehicle of German reinsurance firm Hannover Re, a $25 million Seaside Re (Series 2019-42) transaction.

German reinsurance giant Hannover Re has assisted with and issued another private catastrophe bond transaction, or cat bond lite, with the issuance of a $10 million California earthquake risk exposed LI Re (Series 2018-1) deal for an unknown cedent and certain ILS investors.

Another private catastrophe bond, or cat bond lite, has been issued in time for the upcoming reinsurance renewal, the first from the Artex Risk Solutions owned segregated account reinsurance transformer platform in a year, a $50.22 million Artex SAC Limited – Series HX Notes transaction.

Four more Seaside Re private catastrophe bonds, or cat bond lites, have been issued with the help of global reinsurance firm Hannover Re, resulting in $60 million of new insurance-linked notes brought to investors through the reinsurers’ Kaith Re Ltd. Bermuda domiciled segregated accounts vehicle.