reinsurance

Further details of under pressure U.S. primary insurance carrier group FedNat’s plan to reduce its scale and refocus its business on Florida have emerged in a filing with the regulator, that details a significant cancellation of policies and potential sale and recapitalisation of its carrier Monarch.

Having already been triggered and paid out US $52.5 million, we’ve now learned the Philippines governments World Bank issued IBRD CAR 123-124 catastrophe bond will not face any additional loss of principal because of the rainfall from super typhoon Rai (locally known as Odette).

Nectaris Re Ltd., the Class 3A Bermuda-based rated reinsurance underwriting platform backed by London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager Leadenhall Capital Partners LLP is planning to expand its open market business to benefit from hard market conditions.

Rating agency AM Best has highlighted the ongoing de-risking and re-underwriting process being undertaken by Class 3A Bermuda based reinsurer Lumen Re, which is the main reinsurance underwriting vehicle of LGT ILS Partners, the specialist dedicated insurance-linked securities (ILS) investments unit of the private bank and asset manager.

Here are the ten most popular news articles, week ending May 15th 2022, 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.

Investors are becoming increasingly engaged in understanding how climate change could affect portfolios of insurance-linked securities (ILS) and the work that is being done at investment managers to understand that, with many taking the time to “come back to the table”, according to Aeolus Capital Management’s Frank Fischer.

US property & casualty insurance giant The Travelers Companies now successfully priced its latest catastrophe bond, with the Long Point Re IV Ltd. (Series 2022-1) issuance securing the carrier $575 million of collateralized catastrophe reinsurance.

Global insurance and reinsurance firm Everest Re is expanding its use of insurance-linked securities (ILS) investor capital, with its third-party capital venture Mt. Logan Re Ltd. a core component of the firm’s efforts to lower its catastrophe exposures, according to John Modin, President of Mt. Logan Re.

France headquartered global reinsurance company SCOR is back in the capital markets with a new Atlas Capital Reinsurance 2022 DAC (Series 2022-1) catastrophe bond through which it is seeking at least $150 million of international multi-peril retrocessional protection.

Florida’s Citizens Property Insurance Corporation’s target for its new catastrophe bond now stands at up to $200 million, while pricing for the Everglades Re II Ltd. (Series 2022-1) transaction has risen to above the initial guidance, Artemis has learned.