Private cat bond news

Last year was a record breaker for the use of cat bond lite platforms, as re/insurers showed increased acceptance of specialist issuance platforms, revealing a growing understanding of catastrophe bonds as a risk transfer, reinsurance and capital management tool.

The four new private deals from the Kane SAC Limited Note Program private ILS issuance platform, which Artemis covered early today here, all provide cover for unnamed U.S. property catastrophe risks and feature industry loss index triggers.

Four new private insurance-linked security (ILS) or catastrophe bond deals, totaling $125.84m, issued through global independent insurance manager Kane’s private ILS platform, the Kane SAC Limited Note Program, have listed in Bermuda.

The fifth in our series of articles featuring leading figures in insurance-linked securities (ILS) and reinsurance on the market as we move into 2015 features Luca Albertini, CEO of insurance linked securities (ILS) investment manager Leadenhall Capital Partners LLP.

The fourth in our series of articles featuring leading figures in insurance-linked securities (ILS) and reinsurance on the market as we move into 2015 features Rick Miller and Michael Popkin, Co-Head’s of Insurance Linked Securities at Jardine Lloyd Thompson Capital Markets.

The recent CHF 70m ($71m) Leine Re private catastrophe bond transaction, which was issued through Hannover Re’s Kaith Re Ltd. segregated accounts company, was ultimately ceded by and benefits Swiss canton insurer Gebäudeversicherung Bern (GVB).

German reinsurance company Hannover Re has again used its Bermuda-domiciled segregated accounts vehicle Kaith Re Ltd. to issue a CHF 70m ($71m) private insurance-linked security or catastrophe bond transaction using a segregated account named Leine Re.

Willis Capital Markets & Advisory (WCMA), the catastrophe bond, insurance-linked securities (ILS), M&A and investment banking unit of global insurance and reinsurance broker Willis, has launched a platform to simplify client access to catastrophe bond capacity.

The popularity of the cat bond lite, or private catastrophe bond or insurance-linked security (ILS) issuance, continues apace with $242m of new risk capital issued through the recognised private cat bond issuance platforms so far in 2014.

Zurich-based insurance-linked securities (ILS) and reinsurance-linked investment management firm Twelve Capital has announced the completion of its fourth privately placed catastrophe bond transaction, Dodeka III a $10m U.S. multi-peril deal.