Private ILS transaction news

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, […]

The capital markets and private cat bond specialist arm of professional services firm Towers Watson has completed the issuance and placement of its fourth privately placed catastrophe bond transaction, the $20m Sunshine Re Ltd. (Series 2013-1). Operating in multiple roles, Towers Watson Capital Markets (TWCM) has structured, arranged, acted as bookrunner and placed this cat […]

Bermuda based reinsurer RenaissanceRe has shown its willingness to be flexible and meet investors needs in the management and deployment of third-party reinsurance capital. The reinsurer has recently used securitization as a tool for managing third-party capital and meeting investors needs for the first time and has ceded catastrophe risk to an investor through a […]

We’ve covered the recently completed Skyline Re Ltd. (Series 2013-1) private catastrophe bond placement in some detail in our original article announcing the transaction and a follow-up where we talked at some length with Towers Watson Capital Markets (TWCM) about its role in structuring and placing the cat bond. However to date we had not […]

The Skyline Re Ltd. (Series 2013-1) private catastrophe bond placement, which we first wrote about back in December here, has been successfully completed. The transaction upsized from the $50m it was initially marketed at to complete at $72m of limit ($61.2m of notes issued). Private cat bond specialist Towers Watson Capital Markets (TWCM) structured, arranged and placed […]

According to sources, Towers Watson Capital Markets (TWCM) are in the process of marketing and placing another private catastrophe bond transaction on behalf of a U.S. primary insurer. The private placement is looking to secure at least $50m of multi-peril cover for the sponsor, with covered perils being New Madrid earthquake, severe thunderstorms and tornadoes. […]

At the end of 2011 we wrote about the private catastrophe bond transaction which saw Swiss based ILS investment firm Solidum Partners AG underwrite $52.5m of the California Earthquake Authority’s reinsurance programme for 2012 on a fully collateralized basis. They then transformed this through a special purpose vehicle called Solidum Re Eiger IC Limited, fronting […]

Swiss based ILS investment firm Solidum Partners AG are one of the many participants in the California Earthquake Authority reinsurance program for 2012. They participated as a collateralized reinsurance vehicle to the tune of $52.5m in the program through a special purpose vehicle called Solidum Re Eiger IC Limited, fronting for their ILS investment funds […]

The last year has seen a move towards issuers of catastrophe bonds and insurance-linked securities bringing more ILS deals to market as private transactions, without rating and with less involvement of certain service providers. The idea behind these private ILS and cat bond deals is to reduce the frictional costs of issuance and speed transactions […]

Everyone involved in the catastrophe bond and insurance-linked securities market is well aware that investor interest in the sector is at an all time high and that the primary market isn’t providing sufficient new capacity to allow all these new, eager investors to access the returns the market can offer. Private catastrophe risk securitization transactions […]