Private ILS transaction news

Some investors have started to experience benefits from the outperformance of investments in the private reinsurance segment compared to catastrophe bonds, after softening of pricing had been seen in the second quarter, Pascal Koller Partner and Portfolio Manager at LGT ILS Partners Ltd., recently commented.

A fourth private catastrophe bond issuance of the year has come to light from Mangrove Risk Solutions Bermuda Ltd., the platform operated by Marsh McLennan and reinsurance broker Guy Carpenter, with a just over $14.35 million Mangrove Risk Solutions Bermuda Ltd. (Series 2024-C) placement completed.

After hurricane Milton skirted the northern Yucatan peninsula of Mexico without making a landfall it is now presumed that the $125 million Class C notes of the IBRD CAR Mexico 2024 catastrophe bond are safe and will not suffer a loss.

Hurricane Milton is now a Category 4 storm with sustained winds of 155 mph at the latest NHC update. With the central pressure now estimated at 933 mb and a track that will see Milton getting very close to the northern Yucatan peninsula, it has brought the Class C notes of the IBRD CAR Mexico […]

As hurricane Milton heads towards Florida, the developing storm situation poses the biggest potential threat to the insurance-linked securities (ILS) market since hurricane Ian in 2022, according to Florian Steiger, the CEO of catastrophe bond investment manager Icosa Investments AG.

Toa Re Europe, the Switzerland-based European reinsurance arm of Japanese group Toa Reinsurance Company Ltd., has benefited from a full payout under its $25 million Silver Crane private catastrophe bond transaction, after the notes were triggered by industry losses from the Turkey earthquake event from early 2023, Artemis has learned.

Twelve Capital, the Swiss headquartered insurance-linked securities (ILS) and reinsurance investment manager, has successfully completed its second private catastrophe bond issuance of the year, bringing a $10 million Dodeka 2024-2 deal to market.

Artemis has learned of two new private catastrophe bond issuances from Mangrove Risk Solutions Bermuda Ltd., the platform operated by Marsh McLennan and reinsurance broker Guy Carpenter, with just over $39.5 million in risk capital issued across two zero-coupon transactions.

A new private catastrophe bond transaction has come to light, as Artemis has learned that Mangrove Risk Solutions Bermuda Ltd., the platform operated by Marsh McLennan and reinsurance broker Guy Carpenter, has issued a new $20 million Mangrove Risk Solutions Bermuda Ltd. (Series 2024-D) transaction.

Depending on the outcome of the hurricane season and the occurrence of other catastrophes, investors in catastrophe bonds could be on-track to meet or even exceed target returns in 2024, with cat bond market yields still elevated and the fundamentals of the insurance-linked securities (ILS) market strong, analysis from Twelve Capital explains.