reinsurance

If the mid-year 2025 reinsurance renewals see relatively flat pricing, commentary from the recent AIFA conference by analysts at Autonomous Research suggests this could be a catalyst for more capital coming off the sidelines and into the insurance-linked securities (ILS) market.

With American Integrity Insurance Company securing its largest catastrophe bond to date, the $565 million Integrity Re III Ltd. (Series 2025-1), CEO Robert Ritchie stated that the issuance reflects the strong confidence and enthusiasm of insurance-linked securities (ILS) investors for the Florida market.

Flood Re, the state-backed flood reinsurance pool in the United Kingdom, has increased the target size for its debut catastrophe bond, with now UK £140 million in fully-collateralized flood retrocessional reinsurance sought from the London Bridge 2 PCC Limited (Vision 2039 – 2025-1) transaction.

The U.S. property and casualty (P&C) insurance industry saw significant improvement in 2024 compared to 2023, with momentum expected to continue in 2025 as higher interest rates drive stronger investment yields for insurers, providing a financial buffer against the volatility of weather-related losses, according to a new report from AM Best.

Bermuda-based Lancashire Holdings Limited has reported that losses from the devastating Los Angeles wildfires have eroded “a good portion” of the annual deductible of the organisation’s aggregate reinsurance cover, but the company has plenty of limit available for the rest of the year, according to Chief Underwriting Officer (CUO) Paul Gregory.

Acrisure Re, the reinsurance and insurance division of global fintech Acrisure, has expanded its Corporate Advisory & Solutions (ARCAS) division with a number of key appointments, including Lauren Johnson, who has been named Head of Funds at Lloyd’s (FAL).

Following the annual AIFA conference held in Florida this week, equity analysts noted mixed views on the mid-year renewal outlook for property catastrophe reinsurance rates. Pricing in upper-layers of reinsurance towers is expected to see the greatest competition, but there are no signs of overly aggressive behaviour at this stage.

Heritage Insurance Holdings, Inc., the nationally expansive, Florida headquartered property and casualty insurer, has now secured its targeted $200 million of reinsurance from the new Citrus Re Ltd. (Series 2025-1) catastrophe bond issuance, as the notes have now been priced at reduced levels.

SafePoint Insurance Company is back in the catastrophe bond market, with a target to secure $100 million in reinsurance protection from capital market investors through a Nature Coast Re Ltd. (Series 2025-2)  issuance, which sees the company back looking for indemnity, per-occurrence coverage.

Sutton National Group has entered the catastrophe bond market for the first time and intriguingly is seeking a capital markets backed $75 million or larger source of fire reinsurance protection in California from this debut Greengrove Re Ltd. (Series 2025-1) issuance, we have learned.