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Sempra to secure minimum $180m size for SD Re wildfire cat bond

Electrical utility Sempra Energy looks set to secure its third slice of catastrophe bond backed wildfire insurance protection at the minimum targeted issuance size of $180 million, while pricing for its new SD Re Ltd. (Series 2021-1) transaction is on-track to settle at the mid-point of guidance. Sempra Enery returned to read the full article →

CATCo retro fund further reduces 2018 wildfire losses

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has again seen its net asset value (NAV) rise after another reduction in catastrophe loss reserves, this time from the 2018 California wildfires. The retrocessional reinsurance investment portfolio constructed by read the full article →

Sempra Energy returns for third and larger SD Re wildfire cat bond

Electrical utility Sempra Energy is back in the catastrophe bond market with what will be its third issuance and this time it is seeking a larger, perhaps $180 million or bigger, SD Re Ltd. (Series 2021-1) transaction. Sempra, a North American energy infrastructure company based in San Diego, California, first came read the full article →

LADWP gets $30m of wildfire cover from new Power Protective Re cat bond

California based utility the Los Angeles Department of Water and Power (LADWP) has finally secured $30 million of wildfire insurance cover from its second catastrophe bond issue, after the Power Protective Re Ltd. (Series 2021-1) deal was priced at the raised coupon level. The eventual and successful pricing of this second read the full article →

Pricing hiked for LADWP’s new Power Protective Re wildfire cat bond

Demonstrating that catastrophe bond funds and investors won't buy into risk at any cost, we're told that the second California wildfire cat bond from the Los Angeles Department of Water and Power (LADWP), the still unsized Power Protective Re Ltd. (Series 2021-1), has seen its price guidance rise considerably. The second read the full article →

CATCo portfolio continues to develop favourably, recoups 3% on 2017 losses

The retrocessional reinsurance investment portfolio constructed by Markel's CATCo Investment Management is continuing to develop more favourably than had originally been expected, with the firm reporting a reduction of claims in relation to catastrophe events from 2017. The CATCo Reinsurance Opportunities Fund Ltd., the exchange listed, retrocession focused insurance-linked securities (ILS) read the full article →

Utility LADWP seeks second Power Protective Re wildfire cat bond

The Los Angeles Department of Water and Power (LADWP) has returned to the catastrophe bond market in search of its second cat bond to provide it with wildfire insurance protection, with an as yet unsized Power Protective Re Ltd. (Series 2021-1) being offered to insurance-linked securities (ILS) funds and investors. The read the full article →

SoCal Edison approved to use cat bonds to transfer wildfire risk

California electrical utility Southern California Edison has been approved to buy up to $1 billion of liability insurance protection for third-party wildfire-related claims, with catastrophe bonds approved as a structure it can use to secure some of the necessary limit. Southern California Edison (SoCal Edison) is one of the electrical utilities read the full article →

Ecological forestry + parametric risk transfer can reduce wildfire losses

A new report on wildfire resilience insurance suggests that in order to help make wildfire insurance more accessible and affordable, a combined ecological forestry approach alongside parametric risk transfer could reduce wildfire losses for the insurance and reinsurance sector. As a result, this could help to drive wildfire insurance premiums lower, read the full article →

CATCo retro fund gains 8% as wildfire claims reduce (possible subrogation)

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has gained roughly 8% in the last month thanks to a further reduction in claims from 2017 and 2018 wildfire loss events. It's the second time this has happened for read the full article →