Transformer (in insurance-linked securities and reinsurance) news

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.

Broking giant Aon has facilitated the issuance of a new $45.5 million Randolph Re (Series 2024-1) private catastrophe bond that we believe could be a renewal of its wildfire deal for Mercury Insurance, but this time it has been issued out of Guernsey using the firm’s protected cell company White Rock Insurance Company PCC Limited.

Artex Risk Solutions, the captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary of Gallagher, has hired Irish Aleria as a Vice President of Insurance Management, ILS.

Artex, the captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary of Gallagher, has announced that its CEO Peter Mullen is to vacate that position, to become Chairman, and that Gallagher EVP Zeb Holt will transition into the CEO position from July.

Nascent Group, an insurance management and reinsurance transformer company launched by Andre Perez to reimagine the insurance-linked securities (ILS) servicing space, has now secured an insurance management license in the Cayman Islands and hired Sergio Micucci to run that operation for the firm.

The Artex Capital Solutions managed Eclipse Re Ltd. structure has issued a new private catastrophe bond transaction, a $25 million Eclipse Re Ltd. (Series 2024-2A) deal.

Despite the slowdown in the collateralised reinsurance marketplace in recent years, global reinsurer Hannover Re continues to place more limit on behalf of investor and ILS fund partners, growing this segment of its business again in full-year 2023.