reinsurance

Core Specialty Insurance Holdings, Inc. has increased the target size for its new Yosemite Re Ltd. (Series 2025-1) catastrophe bond, with now up to $95 million of catastrophe reinsurance sought from the deal which, like its first, will cover its StarStone US entities to begin.

Tropical Cyclone Alfred, the seventh named storm in the Australian cyclone season, is expected to drive economic and insured losses in the hundreds of millions of Australian dollars at least, according to insurance and reinsurance broker Aon.

HP Reinsurance SPC Ltd. (HP Re), a Cayman Islands based reinsurer, and Hale Partnership Capital Advisors has announced the hiring of Matt Walters as Chief Operating Officer (COO) of HP Re, as the firm continues to expand in both the reinsurance and retrocession markets.

Sven Althoff, Member of the Executive Board for Property & Casualty (P&C) of large European reinsurer Hannover Re said this morning that catastrophe bonds have been the main area of expansion for the company within the insurance-linked securities (ILS) space, noting that it is a “nicely growing part” of the firm’s business.

Fidelis is set to benefit from a roughly $98 million additional retrocessional reinsurance recovery from its aggregate industry-index trigger Herbie Re Ltd. (Series 2021-1) catastrophe bond, as losses from the California wildfires, added to those from hurricanes Helene and Milton earlier in the risk period, have eaten into the remaining principal of these notes.

AXIS Capital, the global specialty insurance and reinsurance underwriter, has now upsized its target for its latest catastrophe bond, increasing it to now seek $200 million in North American named storm and earthquake protection from the Northshore Re II Ltd. (Series 2025-1) issuance, Artemis has learned.

Global reinsurance company Hannover Re shared a much larger proportion of its large natural catastrophe losses with insurance-linked securities (ILS) capital sources in the final quarter of 2024, as the company ceded out more than half of its losses from hurricane Milton, with retrocessional arrangements seemingly playing a key role.

Reinsurance broker Gallagher Re recently launched its Cyber Risk Adjusted Rating (RAR) Index, revealing that its value was 100% higher on January 1st, 2025, compared to January 1st 2020, indicating higher rates-on-line, as the cyber market continues to grow amid an evolving risk landscape.

Porch Group, the owner of insurer Homeowners of America Insurance Company (HOA) which was impacted by the Vesttoo reinsurance letter of credit (LOC) collateral fraud, has agreed a $7.1 million settlement over constructive trust claims with the Vesttoo Creditors Liquidating Trust, court documents show.

We’re told that US primary insurer Allstate has for a second time increased the target size for its new Sanders Re II Ltd. (Series 2025-1) catastrophe bond issuance, with a further increase to one of the tranches of notes and the overall deal now targeting $750 million in collateralized catastrophe reinsurance for the company.