reinsurance

The Hanover Insurance Group, Inc. has raised the target size for its new Commonwealth Re Ltd. (Series 2025-1) catastrophe bond sponsorship, with now up to $200 million of multi-peril reinsurance limit sought, while at the same time the price guidance for the notes has been lowered, Artemis understands.

The UK Met Office has joined calls for above-average levels of 2025 Atlantic hurricane season activity, forecasting 9 hurricanes and 4 major hurricanes as the most likely number to be experienced, citing signals for continued neutral El Niño conditions and vertical wind shear at near to or below-normal levels.

Among the data points we track during the timeline of each catastrophe bond issuance, are the movements in pricing between the mid-point of initial offering guidance and the finalised spread, as well as any changes in the size of a cat bond offering from the initially targeted amount.

Global P&C insurer AmTrust Financial Services is back in the catastrophe bond market for the first time since 2017, with a target to secure $100 million or more in northeast US named storm reinsurance protection from this Solis Re Ltd. (Series 2025-1) issuance, Artemis has learned.

Fidelis Insurance has now secured its upsized target of $90 million of worldwide aggregate retrocession through the new Herbie Re Ltd. (Series 2025-1)  catastrophe bond issuance, while the notes have now been priced at the low-end of initial guidance, Artemis can report.

We can now bring you additional details on the recent $1.55 billion of catastrophe bond’s sponsored by US insurer State Farm. We’ve learned that there is a range of reinsurance protection provided by the four series of notes, the largest being a $550 million aggregate cat bond cover for the company.

Despite signs of softening at key renewal periods, returns on capital in the property catastrophe reinsurance sector remain “very attractive,” according to analysts at Peel Hunt, who noted that the market continues to deliver internal rates of return (IRRs) well above the cost of capital.

The Massachusetts Property Insurance Underwriting Association (MPIUA) has now secured its latest catastrophe bond at the 50% upsized target to source $225 million of multi-peril reinsurance protection from the capital markets with its new Mayflower Re Ltd. (Series 2025-1) issuance.

Super Early Bird tickets are running low for our next catastrophe bond and insurance-linked securities (ILS) market conference, Artemis London 2025. To join us in London on September 2nd, for a full-day of in-depth discussion about the ILS market and valuable networking, register to attend here.

Canopius Group, the global specialty insurance and reinsurance underwriter, has returned to the catastrophe bond market looking to renew and upsize on a soon to mature deal with what will be its second cat bond, targeting $125 million or more in protection from this Finca Re Ltd. (Series 2025-1) issuance, Artemis has learned.