reinsurance

American Integrity Insurance Company will now secure its upsized target of $305 million in collateralized named storm reinsurance protection from its new Integrity Re Ltd. (Series 2024-1) catastrophe bond, while two tranches of notes from the issuance are set to price below guidance.

PURE, a high-net worth insurance specialist that is part of the Tokio Marine Group, has entered the catastrophe bond market for the first time, seeking $100 million or more in named storm and earthquake reinsurance from an Ashera Re Ltd. (Series 2024-1) issuance, Artemis has learned.

The U.S. Federal Emergency Management Agency (FEMA) has now successfully priced its latest FloodSmart Re Ltd. (Series 2024-1) catastrophe bond issuance, with the deal set to provide the upsized target of $575 million of flood reinsurance protection for the National Flood Insurance Program (NFIP).

Devastating wildfires burning in the state of Texas now encompass more than 1.26 million acres of land, with one fire becoming the largest in Texas history and broker Aon says that the fire event could cause economic and insured losses in the hundreds of millions of dollars.

The modified and amended Chapter 11 bankruptcy plan of liquidation for insurtech Vesttoo got its court approval late yesterday, as the Delaware judge signed off on a last minute term sheet related to settlements. But, with some objections still being raised the focus now turns to the Bermuda court for approval to proceed with constructive […]

Italian primary insurance company UnipolSai Assicurazioni S.p.A. is back in the catastrophe bond market and seeking €100 million in earthquake reinsurance protection through an Azzurro Re II DAC (Series 2024-1) cat bond issuance, Artemis has learned.

The global reinsurance market pricing cycle is peaking and rising levels of both traditional and alternative capital is one driver, but still the market remains very attractive and profitable growth opportunities persist, according to Fitch Ratings.

Reflecting the much improved conditions for investments into reinsurance and retrocession, global insurance and reinsurance player Everest Group has received both positive income and dividends from its Mt. Logan Re Ltd. third-party capitalised sidecar-like structure in 2023.

The government of Hong Kong wants to attract more insurance-linked securities (ILS) sponsors to the Special Administrative Region, as it highlights a commitment to develop its ILS market and build on early successes there.

CyberCube, a specialist modelling firm for cyber risks and exposures, has analysed the four 144A cyber catastrophe bonds that have been issued to date and found that there is diversification between them, which it says means these first deals provide a solid base for future innovation.