reinsurance

The recent April 2024 severe storms that caused heavy flooding impacts across the United Arab Emirates, Oman, Saudi Arabia and other Gulf Cooperation Council (GCC) countries are expected to activate excess-of-loss reinsurance recoveries for primary insurers, which Moody’s Ratings says will drive prices higher.

Artemis can report that the annual aggregate catastrophe losses applicable to US primary insurer Allstate’s outstanding catastrophe bond that features a $1m franchise deductible are now just slightly below the attachment point for the notes, suggesting the maturity will likely extend to allow for any loss development.

The total-return of the outstanding catastrophe bond market for the first-quarter of 2024 has reached 4.57%, according to data from the Swiss Re Cat Bond Performance Indices, which shows that cat bond market performance is running slightly behind the prior year.

This video features an expert panel discussing collateralized reinsurance and retrocession market trends at our Artemis ILS NYC 2024 conference, which was held in New York on February 9th 2024.

There is one week left to secure a Super Early Bird ticket rate to attend our next catastrophe bond and insurance-linked securities (ILS) market conference, ILS Asia 2024, which takes place on July 11th at the Suntec Convention Centre in Singapore.

The North Carolina Joint Underwriting Association (NCJUA) has returned to the catastrophe bond market for the first time since 2013, seeking $125 million of more in aggregate named storm reinsurance from this Longleaf Pine Re Ltd. (Series 2024-1) issuance.

According to the latest data release from the General Insurance Association of Japan, insurance claims paid for the January 1st M7.5 earthquake that hit near the Noto Peninsula in Ishikawa prefecture have risen by approximately 22% just a few weeks, to roughly US $492 million.

Aspen has now priced and finalised its latest catastrophe bond issuance, securing $300 million of multi-peril retrocessional reinsurance from the upsized Kendall Re Ltd. (Series 2024-1) transaction.

Issuance of property catastrophe bonds, bonds exposed to other lines such as health and related private cat bond deals tracked by Artemis in our Deal Directory has now reached $7 billion for 2024 so far, but of that total some 82% is exposed to Atlantic hurricane risks showing just how important the peril is to […]

Catastrophe reinsurance pricing for programs in the United States is seeing “material softening” in minimum rates-on-line, broker Gallagher Re has said, as reinsurers “abandon” the need for top-layer pricing to exceed the risk-free rate.