reinsurance

Twelve Capital, the Zurich headquartered insurance-linked securities (ILS) and reinsurance investment manager, is forecasting “a longer-lasting heightened pricing environment”, or so-called hard insurance market cycle, with discipline one factor that can help sustain this.

US primary insurer Allstate is now seeking to upsize its latest catastrophe bond, with the target for the Sanders Re III Ltd. (Series 2024-1) issuance rising from the initial $200 million, to now a goal of securing between $300 million and $350 million in reinsurance from the capital markets with this deal.

The Committee of Unsecured Creditors in the Chapter 11 bankruptcy case of insurtech Vesttoo have objected to broking group Aon being allowed multiple votes on the proposed plan of bankruptcy, while also saying claims from equity holders in certain Vesttoo structures should be denied votes completely.

Florida insurance carriers purchased 11% more in reinsurance over the course of 2023 than a year earlier and while market conditions were certainly hard, it was not as challenging as had been forecast for the domestic Floridian insurance market.

The threat of loss to investors in mortality catastrophe bonds has increased in recent weeks, with Swiss Re’s Vita Capital VI deal marked down for a near total loss and one of the Matterhorn Re cat bonds sponsored by the reinsurer has seen its maturity extended, as mortality estimates have risen again, Artemis has learned.

GeoVera Insurance Holdings, Ltd., a specialty earthquake-focused residential property insurance company, is back in the catastrophe bond market for the second time, seeking $100 million or more in US earthquake reinsurance via a Veraison Re Ltd. (Series 2024-1) cat bond issuance.

American Coastal, the remaining carrier in the United Insurance Holdings group, has claimed a risk adjusted price decrease of 9.24% in renewing its all other perils reinsurance arrangement for 2024.

Sasria, the state-owned insurer in South Africa that provides cover for riots, public disorder and other difficult to place risks, is facing a reinsurance market with diminishing appetite for exposure linked to power grid failure, which has led it to consider insurance-linked securities (ILS) such as catastrophe bonds.

There is now just one month left to register and get your ticket to attend our next insurance-linked securities (ILS) conference. ILS NYC 2024 will be held in New York City on February 9th 2024, with hundreds of attendees from the ILS community set to come together for a day of thought-leadership, discussion and valuable […]

PartnerRe, the Bermuda headquartered reinsurance company, has announced the appointment of Philippe Meyenhofer as CEO as its new CEO, as Jacques Bonneau prepares to retire.