reinsurance

In a Saturday update, Andrew Siffert, reinsurance broker BMS Re’s Senior Meteorologist, has said that, based on the latest forecasts and with Beryl taking longer to regain hurricane status, after weakening to a tropical storm overnight, the insurance industry loss from the storm could be largely retained in the primary market, without too much reinsurance […]

While the catastrophe bond market has been flying in 2024, with records falling and a significant half-year total of $12.6 billion issued, analysts at investment bank J.P. Morgan rightly point out that the cat bond market alone is not bringing significant net-new reinsurance capital to the market.

Tropical Storm Risk (TSR) has again raised its forecast for activity levels during the 2024 Atlantic hurricane season, with an additional hurricane expected and a prediction that now four Category 1 or stronger storms will make landfall in the United States.

Australian primary insurance giant Suncorp Group has renewed its main reinsurance program arrangements for its fiscal year 2025, adding $350 million to the top of its catastrophe reinsurance tower, taking it to $6.75 billion.

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has seen its members renew their parametric insurance policies for the 2024/2025 policy year, with 10% more in parametric coverage purchased, while also making its first payout of 2024, $6.4 million for Guatemala after heavy rainfall.

Despite the fact catastrophe bond spreads widened considerably in May 2024, the Eurekahedge ILS Advisers Index still managed a positive return for the month, helped by the returns of collateralised reinsurance and retrocession investments from the private ILS funds it tracks.

An update from Swiss based catastrophe bond fund management specialist Plenum Investments confirms our earlier analysis, that the track and pressure data for major hurricane Beryl suggests the storm will not have breached the parametric trigger for the $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond.

Jamaica has been battered by the passage of major hurricane Beryl just off its southern coast. But, for holders of the World Bank facilitated $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond transaction, early analysis of the real-time storm track suggests that noteholders will not face any loss of principal.

Twelve Capital, the Swiss headquartered insurance-linked securities (ILS) and reinsurance investment manager, has successfully completed a new $15 million Dodeka 2024-1  private catastrophe bond, which is the manager’s twenty seventh issuance in the Dodeka series.

Overnight, the latest updates to the forecast path of major hurricane Beryl have kept Jamaica’s $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond transaction on watch for its potential to be triggered. Cat bond market participants tell us it may be too late for any trading activity now, but at the same time we’re […]