Beazley gets new PoleStar Re 2024-3 cyber cat bond with further upsize to $210m
Beazley has now secured its latest cyber catastrophe bond and further upsized the transaction to provide even more in reinsurance, with the PoleStar Re Ltd. (Series 2024-3) issuance set to price at $210 million in size for the company, Artemis has learned. Beazley returned to the catastrophe bond market at the read the full article →
Parametrics: Don’t blame it on the basis risk
Some 27 years since I had my introduction to parametric triggers, one factor is still cited as holding back broader adoption, the issue of basis risk. But there are now signals that suggest the industry is finally beginning to overcome this perceived coverage gap and has reached a stage in its read the full article →
Central Europe floods could drive insured losses up to $3.3bn, says Gallagher Re
Insured losses from the recent severe floods that struck central Europe, which mainly occurred from September 12-15 are likely to range between EUR 2.0 - 3.0 billion (USD 2.2 - 3.3 billion), according to estimates from reinsurance broker Gallagher Re. A slow-moving low-pressure system caused continuous rainfall across central Europe, leading read the full article →
Capital’s view of ILS opportunities has rapidly evolved: McKeown, Vantage Risk
The evolution of investor's and capital's view of opportunities in the insurance-linked securities (ILS) space has been particularly rapid over the last couple of years and Chris McKeown of Vantage Risk believes collateralized reinsurance opportunities and new lines of business are increasingly of interest. McKeown, the Chief Executive for Reinsurance, Partnership read the full article →
Reinsurance consolidating organically, but ILS & retro partnerships are key: AM Best
For traditional reinsurers, scale and the ability to provide a broad and comprehensive offering has become more critical and with little interest in starting new companies in the space, the global reinsurance industry is consolidating organically, rating agency AM Best believes. While it does this, the role of insurance-linked securities (ILS), read the full article →
Swiss Re cat bond index surpasses 10% return for 2024 after August
The total-return of the outstanding catastrophe bond market for 2024 through the end of August has now hit double-digits at 10.07%, according to data from the Swiss Re Cat Bond Performance Indices, which means while cat bond market performance is running behind the prior year, returns remain historically elevated. At 10.07% read the full article →
Beazley targets more than doubling of PoleStar Re 2024-3 cyber cat bond to $200m
Beazley is aiming to more than double the size of its latest cyber catastrophe bond, with the PoleStar Re Ltd. (Series 2024-3) issuance now targeted to secure $200 million in reinsurance protection, Artemis has learned. Beazley came back to market at the beginning of the month with what will be its read the full article →
Hurricane Francine US private onshore & offshore insured loss to be less than $2bn: Moody’s RMS
U.S. private market onshore and offshore insurance industry losses from hurricane Francine have been estimated at less than $2 billion by Moody’s RMS Event Response, with losses to the National Flood Insurance Program (NFIP) expected to be under $200 million. This estimate from Moody’s RMS Event Response includes onshore insured losses read the full article →
DaVinci stands-out for growth, Medici investors rebalance in RenRe’s $7.15bn third-party AUM
The DaVinci Re joint-venture sidecar-like but equity-backed structure stands-out for the strongest growth in third-party capital among the vehicles managed by RenaissanceRe’s Capital Partners division, which had $7.15 billion in third-party investor assets under management at the mid-way point of 2024. At the same time, the Medici catastrophe bond focused fund read the full article →
American Integrity cat bonds marked down further as hurricane Ian loss rises again
Two more outstanding catastrophe bonds that are exposed to potential losses from hurricane Ian have been marked down further on secondary pricing sheets, as US primary insurer American Integrity has increased its estimate for the storm, Artemis has learned. We last reported on the Integrity Re catastrophe bonds back in January read the full article →
