reinsurance

Oxbridge Re Ltd., the Cayman Islands based reinsurance company, has launched its second reinsurance sidecar fundraising effort through the sale of up to $10 million of EpsilonCat Re tokenized reinsurance securities issued by its subsidiary SurancePlus Inc.

In what might be viewed as another sign of a more balanced supply-demand dynamic in the catastrophe bond market, the latest deal from UnipolSai Assicurazioni S.p.A. has remained at €100 million in size, but the pricing for the Azzurro Re II DAC (Series 2024-1) cat bond notes has been lifted to the top-end of initial […]

Having shared over one billion Euros of large natural catastrophe and man-made losses with insurance-linked securities (ILS) investors in 2022, last year the figure fell considerably with reinsurance firm Hannover Re only sharing EUR 62 million in losses through fronted ILS arrangements in 2023.

PURE, a high-net worth insurance specialist unit of the Tokio Marine Group, has raised the target size of its debut catastrophe bond to $105 million, while we understand that price guidance for the Ashera Re Ltd. (Series 2024-1) notes has been lowered.

According to Artemis’ sources, activity in the industry-loss warranty (ILW) market has increased in the last few weeks, as reinsurance and insurance-linked securities (ILS) markets prepare for what is anticipated to be an active 2024 Atlantic hurricane season.

Another settlement agreement has been reached in the Vesttoo bankruptcy case, as the debtors, the Official Committee of Unsecured Creditors and reinsurance giant Hannover Re have reached an agreement over funds related to a longevity swap transaction.

Rating agency AM Best has highlighted disciplined capital deployment as a feature of the insurance-linked securities (ILS) market in 2023, which, thanks in part to sustained strong pricing in reinsurance, experienced a record-breaking year.

Having previously begun reporting an estimation it would receive up to $30 million in reinsurance recoveries from its Kilimanjaro Re catastrophe bond program, after a deal was triggered by rising industry losses from hurricane Ian, we understand global re/insurer Everest has now trimmed back its recovery expectation significantly given a reduction in the industry estimate.

The first catastrophe bond to be issued using the London Bridge 2 PCC insurance-linked securities (ILS) structure provides a valuable roadmap for Lloyd’s market participants and Lloyd’s CFO believes the market’s ILS platform offers a viable alternative to domiciles like Bermuda.

In what could be considered a positive development in a catastrophe bond market that has seen pricing softening, the latest catastrophe bond from Heritage Insurance Holdings, Inc. looks set to be priced within its initial guidance, while the target remains for $100 million in collateralized US named storm reinsurance from the Citrus Re Ltd. (Series […]