Private insurance-linked securities news

A new private catastrophe bond issuance has completed and listed in Bermuda using the Artex SAC Limited Note Program. $8.947m of Artex SAC Limited – Series CX Notes were listed on the Bermuda Stock Exchange (BSX) yesterday.

Zurich headquartered specialist insurance and reinsurance linked investment and ILS fund manager Twelve Capital has arranged another private catastrophe bond deal, with the completion and listing of a $21.274m Dodeka X transaction.

Twelve Capital, the specialist insurance and reinsurance linked investment and ILS fund manager, has completed and listed another private catastrophe bond transaction, its second in two days, a $14.55m Dodeka IX transaction.

Another Dodeka private catastrophe bond has been issued for Twelve Capital, the specialist insurance and reinsurance linked investment and ILS fund manager, with the completion and listing in Bermuda of an $11.49m Dodeka V-2016 transaction.

Twelve Capital, the specialist insurance and reinsurance linked investment and ILS fund manager, has completed its latest private catastrophe bond, or cat bond lite, with the issuance and listing of a $23.812m Dodeka VIII cat bond issue.

Artex Risk Solutions, the insurance and reinsurance management unit of broker Arthur J. Gallagher & Co., has continued its expansive ambitions and has acquired Quest Holdings (Gibraltar) Ltd., the largest insurance manager in Gibraltar, which of course is another domicile with ILS ambitions.

Artex Risk Solutions, an insurance and reinsurance management unit of broker Arthur J. Gallagher & Co., has renamed the private catastrophe bond, ILS and segregated accounts company it inherited through the acquisition of Kane, to Artex SAC Limited.

Investments in private insurance-linked securities (ILS) mechanisms is a growing sub-sector of the overall ILS space, and its attractiveness to third-party investors as a viable asset class is supported by the illiquidity premium offered, according to Sandro Kriesch of Twelve Capital.

According to an update from the Bermuda Stock Exchange (BSX) a $50.2m private catastrophe bond transaction issued through the Kane SAC Limited Note Program was redeemed early in January and has now been delisted from the exchange.

Private insurance-linked securities (ILS) transactions have flourished in recent times, underlined by the consistent growth of the collateralized reinsurance and cat bond lite sub-sectors, where investors can access higher yields, according to Twelve Capital.