reinsurance

HCI Group subsidiary Homeowners Choice Property & Casualty Insurance Company, has completed a successful takeout of approximately 53,750 policies from Citizens Property Insurance Corporation, Florida’s state-backed insurance company, with the insurer of last resort now showing signs that thanks to depopulation its exposure is starting to reduce.

A new report calls on the world to implement risk sharing systems, such as parametric triggers in insurance, reinsurance and insurance-linked securities (ILS) such as catastrophe bonds, as a central pillar of the Loss and Damage architecture required to protect the most vulnerable nations against climate, weather and natural disasters.

Plenum Investments AG, the Zurich based specialist insurance-linked securities (ILS) and catastrophe bond investment manager, has grown the assets under management of its mixed catastrophe bond and subordinated insurance debt ILS investment fund to over US $400 million.

Insurtech Nayms has facilitated a first secondary trade of participation tokens on its platform, as two parties traded a participation in what was the first cryptocurrency denominated industry loss warranty (ILW) transaction.

Insurance giant Liberty Mutual is back in the catastrophe bond market seeking a $250 million or greater source of industry loss triggered catastrophe reinsurance from the capital markets through a Mystic Re IV Ltd. (Series 2024-1) issuance.

Artex, the captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary of Gallagher, is set to rebrand all of its cell facilities and transformer offering as Artex Axcell, as it seeks to unify the brand proposition across these important market-facing services.

Annual global catastrophe bond and related insurance-linked securities (ILS) issuance is officially on-track to breach $14 billion for the first time ever in 2023, while traditional 144A property cat bond issuance will also reach a new record high, according to Artemis’ market data.

In a shake-up of the UK government’s international development policy as well as its approach to humanitarian and aid funding that will be announced today, Artemis understands there will be a nod to a growing role for insurance risk transfer, while the use of private capital from investors is going to be highlighted, suggesting catastrophe […]

With the fourth-quarter of the year an important time for the property insurance market, not least as the peak reinsurance renewal season approaches, broking giant Aon has made considering catastrophe bonds the top recommendation for insurers looking to navigate what can be a challenging time.

Beazley, the London headquartered specialty insurance and reinsurance underwriter, is sponsoring its first ever Rule 144A property catastrophe bond, seeking $100 million or more in protection through a Fuchsia 2023-1 issuance using the Lloyd’s owned ILS structure London Bridge 2 PCC Limited.