reinsurance

The first of the long-range forecasts for the 2024 Atlantic hurricane season has now been published and while these extended range outlooks should be treated as very broad guidance for what to expect, the team at Tropical Storm Risk (TSR) anticipate activity 30% above the near and 50% above the long-term norms.

At a recent event held in the city, speakers representing the government of the Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of China were keen to promote the development of its insurance-linked securities (ILS) market offering and to attract more catastrophe bond business.

Last year, Bermuda-based insurance and reinsurance company use of insurance-linked securities (ILS) such as catastrophe bonds increased, according to survey data collected by the Bermuda Monetary Authority (BMA).

German insurer Versicherungskammer Bayern Versicherungsanstalt des oeffentlichen Rechts’ (VKB) has now successfully priced its debut King Max Re DAC 2023 catastrophe bond issuance to provide it with an upsized €175 million of multi-peril catastrophe reinsurance protection.

American Family Mutual Insurance Company, or AmFam as it is known, has now secured the upsized $175 million in capital market backed multi-peril catastrophe reinsurance from its new Four Lakes Re Ltd. (Series 2023-1)  catastrophe bond.

Here are the ten most popular news articles, week ending December 10th 2023, 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.

Taking into account the needs of insurance-linked securities (ILS) investors was a critical component of the work to get the industry’s first cyber catastrophe bond to market, and it was important to ensure the sponsor AXIS Capital’s coverage needs were also met, Kyle Freeman told Artemis in an interview.

Today, we are delighted to reveal the first wave of speakers confirmed for our next insurance-linked securities (ILS) conference. ILS NYC 2024 will be held in New York City on February 9th 2024, with around 400 attendees from the ILS community expected to come together for a day of thought-leadership, discussion and valuable networking.

Florida-focused insurance holding entity HCI Group is aiming to raise close to $90 million through a public offering of its equity, with the target being to put the money raised to work to fund the continued assumption of policies from the state’s insurer of last resort, Florida Citizens.

Beazley, the London headquartered specialty insurance and reinsurance underwriter, is aiming to significantly increase the size of its debut 144A cyber catastrophe bond issuance,  with the PoleStar Re Ltd. (Series 2024-1) now targeted to secure the company $130 million of cyber reinsurance, a 73% upsizing from the initial offering size.