Private cat bond news

A $50.12m series of private catastrophe bond notes has been issued through the Kane SAC Limited Note Program, a platform that global independent insurance manager Kane established to assist private insurance-linked securities (ILS) sponsors.

The Cincinnati Insurance Company, a subsidiary of Cincinnati Financial Corporation, has returned to the catastrophe bond market for its second and largest issuance, with a $100m Skyline Re Ltd. (Series 2014-1) arranged by Jardine Lloyd Thompson Capital Markets.

Global reinsurance firm Tokio Millennium Re AG has sponsored its first catastrophe bond, with the successful placement of a $25m private deal, named Omamori, through Tokio Solution Management Ltd‘s private cat bond platform Tokio Tensai™.

Specialist Swiss-based insurance-linked securities (ILS) and reinsurance-linked investment manager Twelve Capital is issuing its first private catastrophe bond, named Dodeka I, as a way to acquire transformed risk for its more liquid investment strategies.

Yesterday we wrote about the launch of a new private catastrophe bond issuance platform by global independent insurance manager Kane and the issuance of the first series of private cat bond notes on it. The first series of just over $9.5m of notes feature underlying risk ceded from the Texas Windstorm Insurance Association (TWIA).

Kane, the global independent insurance manager, has launched a private catastrophe bond issuance platform and a first series of notes has been issued. The private catastrophe bond notes have been issued through the Kane SAC Limited Note Program, a platform Kane has established to assist private ILS sponsors.

The capital markets and private catastrophe bond specialist arm of professional services firm Towers Watson has announced the completion of its latest privately placed cat bond deal. Towers Watson Capital Markets (TWCM) has successfully placed a third cat bond for a Florida insurer through the Oak Leaf Re special purpose vehicle.

Very interesting news has just come in that Tokio Solution Management Ltd., the collateralized reinsurance and insurance-linked securities arm of reinsurer Tokio Millennium Re, and GC Securities, the capital markets arm of broker Guy Carpenter, have teamed up to create and launch a private catastrophe bond platform called the Tokio Tensai™ Platform.

According to a recently published update LGT Insurance-Linked Strategies, the insurance-linked securities and reinsurance-linked investment manager, has participated in another private catastrophe bond transaction. The transaction appears to have been completed recently and LGT participated as the sole investor.

A third privately marketed and placed catastrophe bond transaction is being issued through Oak Leaf Re Ltd., a Bermuda domiciled special purpose insurer according to the market. The transaction, Oak Leaf Re Ltd. (Series 2013-1), is seeking a source of fully-collateralized, indemnity based reinsurance protection from Florida hurricanes for a homeowners insurer in the state, […]