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Tropical storm Claudette forecast as first US named landfall of 2021 season

Tropical storm Claudette is now forecast as likely to be named in the coming hours and make the first landfall of the 2021 Atlantic hurricane season, with the latest forecasts suggesting that sustained winds could near 45 mph, while torrential rain, flooding and some tornadoes are forecast for the Louisiana read the full article →

RenRe targets 67% larger, lower priced, $250m Mona Lisa Re cat bond

RenaissanceRe is targeting an increased issuance size for its latest catastrophe bond, with the company now seeking 67% more multi-peril reinsurance protection from the new Mona Lisa Re Ltd. (Series 2021-1) transaction, at reduced pricing compared to initial guidance. Bermuda-headquartered global reinsurance form RenaissanceRe (RenRe) brought its latest catastrophe bond transaction read the full article →

Titania Re cat bond an important part of Ariel Re’s strategy: CEO Mather

The recently completed $150 million Titania Re Ltd. (Series 2021-1) catastrophe bond is an important part of Ariel Re's strategy, according to the reinsurance firm's CEO Ryan Mather, who also said that partnership with ILS investors is beneficial to the company,  its clients and its owners. Ariel Re entered the catastrophe read the full article →

Claims paid on Feb M7 Fukushima, Japan earthquake pass $1.62bn

Insured losses from the Magnitude 7.0 earthquake that struck off the coast of the Fukushima region of Japan on February 13th 2021 have continued to rise and at a faster pace, with the loss to the insurance and reinsurance industry now reaching above US $1.62 billion, according to data from read the full article →

Blackstone’s parametric Wrigley Re cat bond prices 20% below initial mid-point

The $50 million Wrigley Re Ltd. (Series 2021-1) catastrophe bond transaction, that will provide parametric earthquake insurance protection to a real estate captive insurer owned by investment giant Blackstone, has now been priced and its coupon fixed approximately 20% below the initial mid-point of price guidance. It's another strong example of read the full article →

Arch targets first retro cat bond with $100m Claveau Re

Arch Capital Group, the Bermuda headquartered specialty insurance and reinsurance company, is in the capital market for its first ever property catastrophe bond, with an at least $100 million global peak peril focused Claveau Re Ltd. (Series 2021-1) retrocession issuance. Arch Capital is no stranger to our extensive Deal Directory of read the full article →

IAG warns on stop-loss reinsurance trigger over Victoria storms & floods

Australian primary insurance group IAG highlighted the potential impacts of recent severe storms and flooding in parts of Victoria, saying that the loss burden is expected to take its net natural peril claims costs over budget and could trigger its stop loss reinsurance cover. As we explained earlier this week, the read the full article →

Divestitures more likely than Aon abandoning Willis deal: Analysts

After the US Department of Justice (DOJ) decided to sue in an attempt to block Aon’s acquisition of broking rival Willis Towers Watson (WTW), analysts at KBW said that rather than abandoning the merger, Aon is more likely to offer additional divestitures. The DOJ's law suit and complaint alleges that the read the full article →

Lloyd’s Central Fund cover has no direct ILS participation

There isn't any direct participation from insurance-linked securities (ILS) funds or investors in the £650 million reinsurance or retrocession protection Lloyd's has purchased to cover its Central Fund, despite nearly 70% of it being collateralised. As we explained earlier this morning, Lloyd's has secured an innovative cover for its Central Fund read the full article →

Arch closes new mortgage ILS at best pricing, broadest investor participation

Arch Capital Group, the Bermuda headquartered specialty insurance and reinsurance company, said today that its mortgage insurer arm, Arch Mortgage Insurance Company (Arch MI), has secured $616 million of reinsurance across its latest $523 million Bellemeade Re 2021-2 Ltd. mortgage ILS deal and a direct placement of another $93 million read the full article →