Private ILS transaction news

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.

Global independent insurance management firm Kane has completed another private catastrophe bond issuance through its Kane SAC Limited Note Program, with a $7.32m Series 2014-2 renewal of the Series 2013-1 transaction issued a year ago.

Specialist Swiss-based insurance-linked securities (ILS) and reinsurance-linked investment manager Twelve Capital has announced the completion of a third private catastrophe bond transaction, the $28m Dodeka IV.

Specialist Swiss-based insurance-linked securities (ILS) and reinsurance-linked investment manager Twelve Capital has completed the issuance of its second private catastrophe bond, the $25m Dodeka II.

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.

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.