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GC / MMC’s Isosceles ILS platform in $25m private cat bond issuance

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. This $25 million Isosceles Insurance Ltd. (Series 2020-C1) transaction is the second deal to come to read the full article →

Covid-19 business interruption losses begin for some ILS funds

A number of insurance-linked securities (ILS) funds reported small losses related to business interruption claims from the Covid-19 pandemic in July, with quota shares the main source. It's understood that some collateralised quota share reinsurance positions covering mainly European carriers have begun to see actual claims related to property business interruption read the full article →

COVID-19 business interruption hit to ILS seen as minimal

After canvassing a number of insurance-linked securities (ILS) investment fund managers and end-investors for their views on possible loss impacts due to the COVID-19 pandemic, the majority strongly believe that impacts from the business interruption issue will only be minimal to their ILS strategies and ILS portfolios. This goes for ILS read the full article →

First private cat bond issued from GC / MMC’s Isosceles ILS platform

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. Isosceles Insurance Limited has issued a single tranche featuring $16.445 read the full article →

Sidecar sponsors struggling to find sufficient capital support

Reinsurance sidecars as a source of protection are in high-demand right now, as ceding companies look to bring third-party capital support into their business models to help buffer against any potential downside caused by catastrophe losses through the year ahead. Our sources said that demand for reinsurance sidecar capacity is perhaps read the full article →

Sidecars & quota shares may face highest Covid-19 claims: A.M. Best

The collateralised reinsurance sidecar market and private quota share transactions entered into by insurance-linked securities (ILS) funds and investors may face the highest impacts from Covid-19 pandemic related claims, A.M. Best has said. We've been raising the subject of sidecar and quota share ILS market and investor exposure to claims from read the full article →

$18.3m Asagao II private cat bond issued by Aon’s White Rock

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. The transaction is the second Asagao private catastrophe bond to be issued using insurance and reinsurance broker Aon’s Bermuda domiciled Class 3 read the full article →

Dodeka XVIII private cat bond from Twelve Capital has maturity extended

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 $25.181 million Dodeka XVIII private cat bond was issued in January 2019 and saw ILS read the full article →

GC / MMC to launch Isosceles Re transformer platform for 4(2) private ILS

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. The new Isosceles Re read the full article →

Artex private cat bond vehicle completes $50.26m issuance

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. A $50.26 million Artex SAC Limited – Series IX Notes read the full article →