reinsurance

Global reinsurance firm SCOR has renewed its main contingent capital facility for the fifth time, continuing the balance-sheet coverage that protects the company against extreme natural catastrophe or mortality events, as well as against a significant decline in its share price.

With the announcement today that insurance and reinsurance specialist Vantage Group is set to be acquired by Howard Hughes Holdings, the firm’s third-party collateralized reinsurance capital business AdVantage received a positive mention from the acquirer’s executives during an analyst call.

Vantage Group Holdings Ltd., the specialty insurance and reinsurance group with a collateralized underwriting arm under the AdVantage strategy, has announced it is to be acquired by the Bill Ackman linked Howard Hughes Holdings, while his hedge fund Pershing Square will manage Vantage’s investment assets going forwards.

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Willis Re, the recently launched reinsurance broker formed by WTW in a joint venture established with specialist private investment firm Bain Capital, has added another recognised specialist in broking property retrocession, with Richard Keegan joining the company in Bermuda.

As the reinsurance and insurance-linked securities (ILS) sector begins to head into the key January renewals period, equity analysts at investment bank Jefferies have said that competitive dynamics within both the catastrophe bond and retrocession markets are likely to reinforce downward pressure at 1/1.

RenaissanceRe is now looking to as much as double the size of its latest catastrophe bond during the offering phase, with the target for the Mona Lisa Re Ltd. (Series 2026-1) issuance lifted to provide it between $325 million and $400 million in multi-peril catastrophe retrocessional reinsurance, sources have told Artemis.

Groupama, the French mutual insurance and reinsurance company, has now priced its new Quercus II Re DAC catastrophe bond to secure the 20% upsized target of €120 million of fully-collateralized convective storm reinsurance protection from the capital markets with this deal, Artemis can report.

Hannover Re has now secured the upsized target of $250 million of North American peak peril retrocession through its new 3264 Re Ltd. (Series 2025-3) catastrophe bond issuance, with the transaction set to become the largest in the program of deals so far and the biggest ever directly sponsored by the company, Artemis has learned.

Moody’s Ratings forecasts that property catastrophe reinsurance pricing will likely fall around 15% over the coming year, as elevated capital levels result in a supply-demand dynamic that favors buyers of protection.