Transformer (in insurance-linked securities and reinsurance) news

Insurance-linked securities (ILS) focused solution provider Jireh Risk Advisors Ltd. has announced a partnership with independent insurance manager Strategic Risk Solutions (SRS) in Bermuda, that will see the pair delivering ILS related services, including risk transformation through a newly launched SPI, Strata ILS Ltd.

We’ve learned of another private catastrophe bond transaction brought to market through the Artex Capital Solutions managed Eclipse Re Ltd. vehicle, with a $5 million Eclipse Re Ltd. (Series 2024-8A) now the eighth private or cat bond lite issuance from this structure in 2024 so far.

For global reinsurance firm Hannover Re, the business of collateralized fronting, where the company fronts reinsurance cedents for ILS investors and funds, is seen as a very important element of its business and an area of growth, executive Thorsten Steinmann said this week.

Back on July 10th we reported on a new $45.5 million Randolph Re (Series 2024-1) private catastrophe bond that appeared to be a renewal of a wildfire transaction for Mercury Insurance and for the first time Aon had used its Guernsey based protected cell company White Rock Insurance Company PCC Limited for the issuance.

Two more series of private catastrophe bond notes have been issued by the Artex Capital Solutions managed Eclipse Re Ltd. vehicle, with these new deals amounting to almost $12.5 million in risk capital, taking total private catastrophe bond issuance for 2024 so far to nearly $400 million, according to Artemis’ data on the cat bond […]

Global reinsurer Hannover Re has seen continued success in its business servicing and facilitating transactions in the collateralised reinsurance and insurance-linked securities (ILS) market in the first-half of 2024, with it notably beating its own full-year record for catastrophe bond limit fronted for already this year.

Artemis has learned of another private catastrophe bond issuance by the Artex Capital Solutions managed Eclipse Re Ltd. structure, with a just over $7 million Eclipse Re Ltd. (Series 2024-5A) taking the issuance of private catastrophe bonds, or cat bond lites, to almost $375 million in 2024 so far.

Global reinsurance firm Hannover Re has announced that employee Michael Eberhardt will become its new Managing Director and Chief Underwriting Officer (CUO) of Hannover Re Bermuda.

Issuance of private catastrophe bonds, or cat bond lites, has now reached $357.6 million in 2024, after two more privately placed insurance-linked securities (ILS) arrangements came to light from the Artex Capital Solutions managed Eclipse Re Ltd. structure.

Artex, the captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary of Gallagher, has announced the launch of its first Vermont protected cell company, named Artex Axcell PCC (Vermont), Inc.