Private insurance-linked securities news

ILS investment fund manager Twelve Capital Management has successfully completed its latest private catastrophe bond under its Dodeka series of securitised reinsurance transactions, with a $33.583 million Dodeka XIV deal that has been issued and listed in Bermuda.

The Artex Risk Solutions owned segregated account reinsurance transformer platform has issued a new private catastrophe bond, with $50.228 million of notes issued in an Artex SAC Limited – Series GX Notes deal.

In an interview with Artemis, Sarah Demerling and Sherman Taylor of Estera Services (Bermuda) Limited, discussed the cat bond lite sub-sector, its impact on Bermuda, and how the island facilitates the issuance of the smaller, yet growing sub-sector of the global insurance and reinsurance linked securities (ILS) space.

Another new private catastrophe bond, or cat bond lite, transaction has been completed, issued and listed in Bermuda using the Artex SAC Limited ILS Note Program II, in the form of $8.311 million of Artex SAC Limited – Series EX Notes.

Tokio Solution Management Ltd., the collateralized reinsurance and insurance-linked securities (ILS) unit of global reinsurer Tokio Millennium Re AG, has completed a new private cat bond through its Shima Re vehicle, with the issuance of a $70.6 million Hotaru 2 transaction which we believe to be a renewal for the 2015 Hotaru.

Insurance and reinsurance linked investment manager Twelve Capital is back with its fourteenth Dodeka private or cat bond lite transaction, a $9.631 million Dodeka XII deal, as it securitizes another slice of reinsurance risk in order to add liquidity for its catastrophe bond investment mandates.

Artemis understands from sources that a ground breaking insurance-linked security (ILS) transaction has been completed featuring nuclear plant liability risks that were transferred direct to an investor in a private cat bond-like format.

Pricing has been more stable in the market for private insurance-linked securities (ILS), such as collateralised reinsurance transactions, than in the liquid catastrophe bond market, according to portfolio managers at Pioneer.

A new private catastrophe bond, or cat bond lite, issuance has been completed and listed in Bermuda using the Artex SAC Limited Note Program II, in the form of $50.227 million of Artex SAC Limited – Series DX Notes.

Twelve Capital, the Zurich headquartered specialist insurance and reinsurance linked investment and ILS fund manager, has completed a $19.5 million Dodeka XI private catastrophe bond issuance, its thirteenth cat bond lite transaction to date.