Private ILS transaction news

Twelve Capital, the Swiss headquartered insurance-linked securities (ILS) and reinsurance investment manager, has successfully completed a new $15 million Dodeka 2024-1  private catastrophe bond, which is the manager’s twenty seventh issuance in the Dodeka series.

A return to stability in the insurance-linked securities (ILS) market, and more broadly across reinsurance, is now starting to drive an uptick in investor interest and Artex Capital Solutions believes this will benefit both catastrophe bonds and the collateralized reinsurance side of the market.

With the Atlantic hurricane season officially underway as of June 1st and forecasts calling for a particularly active year, insurance-linked securities investment manager Twelve Capital believes investors with a long-term view are well-compensated for shouldering this exposure.

Isosceles Insurance Ltd., a Bermuda-domiciled platform operated by Marsh McLennan and reinsurance broker Guy Carpenter that has been used for the issuance of private insurance-linked securities (ILS) and catastrophe bonds, has been renamed to Mangrove Risk Solutions Bermuda Ltd.

One tranche of notes from the joint-largest private catastrophe bond issuance to ever hit the market, the $250 million Aquarelle Notes transaction, have had their maturity date extended, presumably to allow for development of qualifying catastrophe losses to identify whether this riskier layer from the deal could be triggered.

Annual global catastrophe bond and related insurance-linked securities (ILS) issuance is officially on-track to breach $14 billion for the first time ever in 2023, while traditional 144A property cat bond issuance will also reach a new record high, according to Artemis’ market data.

Aon operated Bermuda-based segregated account company White Rock Insurance (SAC) Ltd. has issued another private catastrophe bond in the Japanese Asagao parametric earthquake series, with a $40 million Asagao VII transaction completed recently.

Six tranches of privately placed catastrophe bonds have been issued with a total value of $87.6 million, by Isosceles Insurance Ltd., the Bermuda-domiciled private insurance-linked securities (ILS) and catastrophe bond platform operated by Marsh McLennan and reinsurance broker Guy Carpenter.

The second session of the day at our Artemis ILS NYC 2023 conference, held in New York on February 10th 2023, featured industry leaders discussing the need to build investor confidence in the collateralized reinsurance and private ILS side of the market.

White Rock Insurance (SAC) Ltd. has issued a sixth transaction in the Japanese Asagao private parametric earthquake catastrophe bond series, with a smaller that typical $4.6 million Asagao VI transaction coming to light.