Aeolus Capital Management hires Dailey from RMS as Head of Research

Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) focused investment fund manager, has announced a new senior hire to its research division, with Dr. Peter Dailey set to joins as Head of Research. Dailey was most recently at catastrophe risk modeller RMS where he held the position read the full article →

Cohen & Co targets $253m with fourth re/insurance SPAC

Fixed income financial services focused investment firm Cohen & Company, LLC is back with another insurance, reinsurance and insurtech focused Special Purpose Acquisition Company, a blank check company or SPAC, with a $253 million target for INSU Acquisition Corp. IV. Once again, the investment manager has an insurance and reinsurance focus read the full article →

USAA aggregate cat bonds in focus on winter storm impacts

Secondary market prices have dropped for some catastrophe bonds in the wake of recent severe winter storm losses in the United States, with aggregate Residential Re cat bonds, sponsored by primary military mutual insurer USAA, the names in investor focus. We've analysed some catastrophe bond broker pricing sheets and it's clear read the full article →

UK’s winter 2020 floods & storms cost re/insurers almost US $1.1bn: PERILS

Winter 2020 severe windstorms and flooding events cost insurance and reinsurance interests in the United Kingdom almost US $1.1 billion, according to the latest data from PERILS AG. The Zurich-based provider of estimates for insurance and reinsurance market property losses has updated its estimate of industry losses from the flooding that read the full article →

CEA gets $215m Ursa Re cat bond at 11% reduced pricing

The California Earthquake Authority (CEA) has successfully secured its first catastrophe bond transaction of 2021 at the upsized $215 million target, while the Ursa Re II Ltd. (Series 2021-1)  catastrophe bond has been priced at the low-end of already reduced coupon guidance. The pricing has moved considerably, once again reflecting high read the full article →

Best of Artemis, week ending 28th February 2021

Here are the ten most popular news articles, week ending 28th February 2021, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish. Ten most read the full article →

Palomar seeks $300m Torrey Pines quake cat bond issued from Singapore

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has returned to the catastrophe bond market its second transaction, with a new $300 million Torrey Pines Re Pte. Ltd. (Series 2021-1) earthquake only deal that is being issued out of Singapore. Palomar had previously sponsored a read the full article →

SiriusPoint launches with over $3bn, adds Montross & Ludlow to directors

SiriusPoint Ltd. has launched as a new international specialty insurance and reinsurance company today, starting with over $3 billion of capital. SiriusPoint has been formed through the merger of Third Point Re and Sirius Group, expanding the remit of both firms and significantly increasing their footprints through the combination. “I am delighted read the full article →

Hurricane-level winter storm claims to drive billions of losses: Aon

Insurance and reinsurance broker Aon has offered its view on the recent winter storm activity in the United States, saying that an expected "hurricane-level" of claims from the winter storm "will translate to payouts well into the billions of dollars." Aon's Impact Forecasting unit has not provided a loss estimate and read the full article →

NFIP reinsurance hits high with new $575m flood catastrophe bond

The U.S. Federal Emergency Management Agency (FEMA) continued to spread its risk with its latest visit to the catastrophe bond market, as the $575 million FloodSmart Re Ltd. (Series 2021-1)  cat bond has lifted its reinsurance program for the National Flood Insurance Program (NFIP) to a new high. FEMA returned to read the full article →