reinsurance

Palomar Insurance Holdings is the latest to upsize its ambitions for its latest catastrophe bond, with the catastrophe-exposed property insurer now seeking $200 million of US earthquake reinsurance from this Torrey Pines Re Ltd. (Series 2023-1) issuance.

After a first-quarter and April reinsurance renewals of growth, global player Munich Re now says the chance it surpasses its full-year guidance for 2023 has increased.

As it seeks to secure its reinsurance needs for the coming wind season in the most economic manner, Florida’s Citizens Property Insurance Corporation has upsized its target for its latest catastrophe bond issuance for a second time, with now up to $775 million of protection sought from the dual-series issuance of Everglades Re II Ltd. […]

Bermuda-based insurer and reinsurer Everest Re Group sees a clear opportunity for expansion at the upcoming reinsurance renewals, launching an equity capital raise that was quickly upsized and could provide the firm close to $1.5 billion in new firepower.

SageSure, the expansive catastrophe exposed property underwriting specialist managing general underwriter (MGU), has received significant backing from two prime companies in the re/insurance and investments space, insurance origination and distribution specialist Amwins and private investor Flexpoint Ford.

Catastrophe reinsurance providers hold most of the cards for the impending Florida renewals at June 1st, with even legislative efforts to improve the situation “missing the mark” in some cases, a market update from Stonybrook Capital states.

A tranche of FloodSmart Re catastrophe bond notes that provide reinsurance to the US Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) have now been deemed safe from potential loss due to hurricane Ian, with the notes redeemed and capital to be returned to investors, Artemis has learned.

Legislative changes undertaken to reform the Florida property insurance space have “mitigated some of the investor and reinsurer negative sentiment” surrounding exposure in the state, according to United Insurance Holdings Corporation CEO Dan Peed.

Global reinsurance group SCOR has slashed the price guidance for its new Atlas Capital DAC (Series 2023-1) multi-peril retrocession focused catastrophe bond issuance, with updated spread guidance indicating a roughly -11.5% fall.

The third session of the day at our Artemis ILS NYC 2023 conference, held in New York on February 10th 2023, saw industry leaders discussing the Florida insurance and reinsurance market, exploring the state of play and how it come overcome some of the challenges that are faced.