reinsurance

Additional forecasts of activity levels for the 2022 Atlantic hurricane season continue to suggest an above-average year of tropical storm and hurricane formation is ahead.

The latest catastrophe bond from Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has had its pricing hiked considerably, with the coupons for both tranches of the still $300 million target Torrey Pines Re Ltd. (Series 2022-1) deal rising well above their initial guidance.

Here are the ten most popular news articles, week ending May 8th 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.

Commenting on the potential for legislative reform in the challenged property insurance market of Florida, RenaissanceRe CEO Kevin O’Donnell remarked that a reduction in the FHCF attachment point will change nothing for his reinsurance firm’s view of risk in the state.

France headquartered globally active reinsurance firm SCOR has increased its third-party capital support in the first-quarter of 2022, taking the capital managed under its collateralised reinsurance sidecar platform to US $400 million.

The price guidance for American Integrity Insurance Company of Florida, Inc’s fifth catastrophe bond issuance, Integrity Re Ltd. (Series 2022-1), has risen again, with the coupon now looking likely to be fixed above guidance.

A new Yosemite Re Ltd. (Series 2022-1) catastrophe bond has been launched with a target to secure at least $75 million of multi-peril US reinsurance from the capital markets, to protect Core Specialty-owned insurers under the StarStone brand to begin.

Global insurance and reinsurance group AXA has taken significant action to reduce its exposure to natural catastrophe loss events, cutting the catastrophe reinsurance exposure held by its AXA XL division by some 40% through renewals so far this year.

Global reinsurance firm SCOR has reported a loss for the first-quarter of 2022, as claims from natural catastrophes and mortality related to the COVID-19 pandemic, as well as reserving for losses from the conflict in Ukraine, all dented its performance.

Global reinsurance firm Hannover Re has been placing tranches of mortality swaps into the capital markets for almost a decade and in recent quarters this strategy has paid off for the company, as its COVID pandemic losses drove its mortality rate higher and triggered recoveries under the swap arrangements.