reinsurance

France-headquartered global reinsurance firm SCOR has achieved a strong pricing result in the catastrophe bond market, as its new Atlas Capital DAC (Series 2023-1) multi-peril retrocession deal has now been priced roughly 17% below the initial mid-point of spread guidance.

Accessing the catastrophe bond market as an alternative form of retrocession, is something Bermuda-headquartered reinsurance company Conduit Re is “actively considering”, according to Trevor Carvey, CEO.

The Board of Florida’s Citizens Property Insurance Corporation approved a slightly smaller budget for its reinsurance and capital market risk transfer purchases than expected yesterday, but market conditions are improved somewhat it seems and, while pricing is higher, the insurer of last resort is seeing positive momentum, especially with catastrophe bonds.

The insurance and reinsurance industry loss estimate for Cyclone Gabrielle’s impacts in New Zealand has been lifted by 25% to NZ $1.925 billion by PERILS AG.

Palomar Insurance Holdings is the latest to upsize its ambitions for its latest catastrophe bond, with the catastrophe-exposed property insurer now seeking $200 million of US earthquake reinsurance from this Torrey Pines Re Ltd. (Series 2023-1) issuance.

After a first-quarter and April reinsurance renewals of growth, global player Munich Re now says the chance it surpasses its full-year guidance for 2023 has increased.

As it seeks to secure its reinsurance needs for the coming wind season in the most economic manner, Florida’s Citizens Property Insurance Corporation has upsized its target for its latest catastrophe bond issuance for a second time, with now up to $775 million of protection sought from the dual-series issuance of Everglades Re II Ltd. […]

Bermuda-based insurer and reinsurer Everest Re Group sees a clear opportunity for expansion at the upcoming reinsurance renewals, launching an equity capital raise that was quickly upsized and could provide the firm close to $1.5 billion in new firepower.

SageSure, the expansive catastrophe exposed property underwriting specialist managing general underwriter (MGU), has received significant backing from two prime companies in the re/insurance and investments space, insurance origination and distribution specialist Amwins and private investor Flexpoint Ford.

Catastrophe reinsurance providers hold most of the cards for the impending Florida renewals at June 1st, with even legislative efforts to improve the situation “missing the mark” in some cases, a market update from Stonybrook Capital states.