reinsurance

2023 saw the first public Rule 144A cyber catastrophe bonds and these presented an important test for the market, laying the foundations for cyber risk to become an asset and opening the capital markets to those seeking cyber reinsurance and retrocession, Brittany Baker of CyberCube has said.

As broadly anticipated in the market, the $217.25 million of operational risk catastrophe bond notes  issued by Operational Re IV Ltd. have now been redeemed, following the acquisition of the beneficiary of the protection, Credit Suisse, by rival UBS.

Swiss Re secured $50 million of cyber industry-loss warranty (ILW) cover recently in a transaction that the broker involved, Gallagher Re, is hailing as the first cyber retrocession ILW ever traded.

All of the 2023 issued vintage of Hannover Re’s Seaside Re private catastrophe bonds have now had their maturity dates extended, Artemis has learned, taking the total extended to almost $139 million across the 2020, 2021, 2022 and now 2023 vintage deals.

French reinsurance company CCR Re has announced a sixth renewal of its long-standing collateralised and securitised reinsurance sidecar vehicle, 157 Re, giving away little in detail again, but saying that the retrocession market was seen as continuing to be “tight” this year.

We have been collecting data and information about, analysing and tracking the catastrophe bond and insurance-linked securities (ILS) marketplace for a quarter of a century as Artemis, and we’ve just hit a new milestone as our extensive Deal Directory has now surpassed the one thousand transaction landmark.

Investors in the reinsurance sector, including those allocating to insurance-linked securities (ILS), are set to enjoy the rewards of the recent industry-wide reset, with higher returns available and good news to come from ILS managers, Neville Ching of ReFlex Solutions has said.

Insured catastrophe losses in the fourth-quarter of 2023 are expected to come in below average for the period, according to the equity analyst team from J.P. Morgan.

Equity analysts at Goldman Sachs are expecting a meaningful slow-down in property catastrophe reinsurance pricing through 2024 and perhaps beyond, but at least for the year ahead, they are not anticipating any meaningful decline.

Here are the ten most popular news articles, week ending January 14th 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.