reinsurance

American Integrity Insurance Company has returned to the catastrophe bond market seeking at least $150 million or more in collateralized named storm reinsurance protection for three southeast US states, with an Integrity Re Ltd. (Series 2024-1) issuance.

Here are the ten most popular news articles, week ending February 11th 2024, 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.

US primary property and casualty insurer The Hartford achieved its goals of adding secure and diversified reinsurance capacity with its latest $200 million Foundation Re IV Ltd. (Series 2023-1) catastrophe bond, which Chief Financial Officer Beth Bombara said helped to raise the top of its reinsurance tower.

Marco Capital Holdings Limited, a European property and casualty (P&C) run-off specialist, has merged Guernsey based, former Credit Suisse ILS reinsurers Kelvin Re and Humboldt Re under the new brand Marco Re, following approval from the Guernsey Financial Services Commission in December of last year.

At a Vesttoo Chapter 11 bankruptcy case hearing, counsel for the official creditor committee said that in working to identify and trace funds remaining from reinsurance transactions implicated in the letter of credit (LOC) fraud, these investigations, which are ongoing, suggest funds were drawn from debtor structures and co-mingled, then used to pay company expenses.

Arch Capital Group, the Bermuda headquartered specialty insurance and reinsurance company, is back in the catastrophe bond market for what is only its second time, to sponsor a currently $100 million Ramble Re Ltd. (Series 2024-1) transaction to secure capital markets backed property catastrophe retrocession.

Augment Risk, a growing risk capital and reinsurance solutions broker, said it aims to harness artificial intelligence technology alongside sophisticated models to underpin the insurance-linked securitization process to differentiate its new ILS broking and advisory offering.

The Florida State Board of Administration, which manages the states massive roughly $180 billion Florida Retirement System Pension Plan, has allocated $398 million to reinsurance and retrocession opportunities across three ILS managers in time for the January renewals.

Broking giant Aon has said today that it anticipates an “influx” of capital to the parametric risk transfer space in 2024, from traditional insurance, reinsurance and ILS fund sources.

Florida homeowners and commercial property insurance underwriter, the Tower Hill Insurance Exchange, is aiming to double the size of its debut catastrophe bond, with its target for Florida named storm reinsurance from the Winston Re Ltd. (Series 2024-1) issuance now lifted to $400 million.