Retrocession
Stratosphere Re cat bond price drops to cover $100m of Nephila’s tail risk
Issuance of the Stratosphere Re Ltd. (Series 2020-1) catastrophe bond has now been successfully completed without upsizing at $100 million but at the lowest end of pricing, offering an efficient source of tail-risk protection to the largest ILS fund manager in the market Nephila Capital.The Stratosphere Re cat bond, which read the full article →
Hannover Re’s 3264 Re cat bond settled at low-end of reduced pricing
At issuance, the upsized by 50% $150 million 3264 Re Ltd. (Series 2020-1) international multi-peril catastrophe bond transaction brought to market by global reinsurance firm Hannover Re saw its pricing settle at the bottom-end of already reduced guidance, reflecting a roughly 6% fall while marketing.This transaction may not be a read the full article →
Significant catastrophe bond issuance expected in 2020: Aon
Significant issuance of property catastrophe bonds is expected in 2020, with a large amount of maturities likely to drive renewal issues, according to broker Aon.In its latest reinsurance market report, Aon explains that loss activity over the last few years "had a relatively modest impact on this area of the read the full article →
Japanese cat bonds trade up as Jebi & Hagibis loss outlooks improve
Three tranches of catastrophe bonds exposed to Japanese typhoon wind damage have traded up around 10% in recent weeks, as the market's view of how large the eventual industry losses from typhoon Jebi and Hagibis will be has moderated somewhat.Both tranches of the $320 million Akibare Re Ltd. (Series 2018-1) read the full article →
PCS used as trigger source for first New Zealand exposed ILW transaction
Property Claim Services (PCS) has expanded its activities around the world with the introduction of new regions where its industry loss data aggregation and index reporting services are available and the market is responding, with new transactions being placed using PCS data as a trigger source.The most recent success is read the full article →
Broad-based Japan & U.S. reinsurance price increases expected: Moody’s
Given the way reinsurance rates moved at the recent January renewals, particularly in property catastrophe lines, the market should expect further "broad-based price increase" at the next sets of renewals in April and at the mid-year, Moody's believes.For the rating agency the most telling factor in predicting future reinsurance price read the full article →
AXIS warns on $169m catastrophe & weather Q4 hit, plus Irma creep
AXIS Capital Holdings Limited, the Bermuda headquartered specialist global insurance and reinsurance firm, has pre-announced a range of hits to its fourth-quarter 2019 earnings, from catastrophes and severe weather during the period, as well as continued loss creep from hurricane Irma.Included in this is losses from Japanese typhoon Hagibis, the read the full article →
Hyperion X builds out reinsurance analytics & capital advisory leadership
Hyperion X Analytics, a data, advisory and technology focused unit of the global Hyperion Insurance Group, has confirmed the hiring of Mark Shumway and announced two more senior leaders as it continues to build out its practice expertise in reinsurance analytics and capital advisory.Hyperion, a global insurance and reinsurance broking read the full article →
Stratosphere Re cat bond trigger said at 15%-25% of Nephila’s total assets
The recently launched to investors Stratosphere Re Ltd. (Series 2020-1) catastrophe bond that will provide coverage to the largest ILS fund manager in the market Nephila Capital, could only be triggered by losses causing the manager a roughly 15% to 25% hit to assets.The Stratosphere Re cat bond, which launched read the full article →
Trapped ILS capital falls slightly, overall reinsurance capital rises: Hyperion X
The amount of insurance-linked securities (ILS) capital and collateral that is still trapped after recent catastrophe loss years has fallen only slightly, as some cat bond collateral in particular was released but fresh collateralised reinsurance and retro collateral was trapped by 2019 loss events.At the same time, overall global reinsurance read the full article →
