private insurance-linked securities

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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 →

Life ILS outlook positive despite Covid-19, says Securis’ Luca Tres

The ongoing Covid-19 pandemic is expected to have a limited impact on the life insurance-linked securities (ILS) sector, and despite the outlook for life insurance markets being downgraded, the future looks positive for life ILS. This is according to Luca Tres, Partner at Securis Investment Partners, who in a recent interview 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 →

Cat bond lites are growing in number and importance

Cat bond lite issuance surpassed $900 million for the third consecutive year in 2019, as a record-breaking 29 transactions came to market, according to the Artemis Deal Directory. Privately placed catastrophe bond transactions, known as cat bond lites, were first introduced to the market in 2011 and have since grown in 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 →

Twelve Capital’s private Dodeka XV cat bond has maturity extended

For the first time (that we've seen) one of the Dodeka series of private catastrophe bonds issued on behalf of specialist insurance and reinsurance linked fund manager Twelve Capital has had its maturity date extended. The $9.269 million Dodeka XV private cat bond was issued for Twelve Capital in June 2018 read the full article →

Highly bespoke, private deals the future of life ILS: Luca Tres, Securis

The ongoing transformation of the life insurance-linked securities (ILS) sector is driving a shift towards more private, highly customised deal structures designed to provide investors with a truly decorrelated, attractive investment, says Luca Tres, Head of Life at Securis Investment Partners LLP. “It is one of the not that many cases read the full article →

ILS community has pushed boundaries of the cat bond lite structure

Privately placed catastrophe bond transactions, also known as cat bond lites, have grown both in terms of size and utilisation since their introduction to the market back in 2011, with almost $2 billion of new risk capital issued over the last two years being privately placed. This is according to data read the full article →

Twelve Capital issues $76.8m of new Dodeka private cat bonds

Specialist insurance-linked securities (ILS) and reinsurance investments manager Twelve Capital has successfully completed issuance of $76.8 million of new private catastrophe bonds through its Dodeka series of transactions. The Dodeka private catastrophe bond (or cat bond lite) series of deals are privately arranged and placed insurance-linked securities (ILS) arrangements, which are read the full article →