reinsurance

Florida’s Citizens Property Insurance Corporation is looking to upsize its latest catastrophe bond issuance significantly, with now up to $600 million of one-year collateralized reinsurance sought from the dual-series issuance of Everglades Re II Ltd. (Series 2023-1 & 2023-2) notes.

Lumen Re, the main reinsurance underwriting vehicle of LGT ILS Partners, the specialist dedicated insurance-linked securities (ILS) investments unit of the private bank and asset manager LGT Capital Partners, has seen its loss ratio reduce significantly, according to rating agency AM Best.

Nectaris Re Ltd., the Class 3A Bermuda-based rated reinsurance underwriting platform backed by London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager Leadenhall Capital Partners LLP, has been writing more open market risks to target the hard reinsurance rates that are available.

Munich Re, the global reinsurer, has now successfully secured the tripling in size of its new Queen Street 2023 Re dac catastrophe bond transaction to $300 million, becoming the biggest cat bond ever sponsored by the company.

Bernina Re Ltd., the Bermuda based reinsurance underwriting and transformer vehicle backed by capital from funds managed by Credit Suisse Insurance Linked Strategies Ltd., has delivered an underwriting profit of $8.9 million for 2022 at a 75.4% combined ratio.

Here are the ten most popular news articles, week ending May 14th 2023, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Artemis is 24 years old today. On the 12th of May 1999, Artemis was formally launched to an audience of reinsurance and capital market executives at an event held in Bermuda.

With reinsurance rates expected to continue rising in Florida at the mid-year renewals and those gains will be on top of the pricing improvements see a year earlier, Everest Re’s Group COO and Head of Reinsurance Jim Williamson has explained that the economics of business written will be “outstanding” at June 1st.

James Kent, the CEO of Gallagher Re, the reinsurance broking arm of the Gallagher broking group, is retiring and will not take up the new global role that he had recently been handed.

Louisiana Citizens Property Insurance Corporation has now priced its new Bayou Re Ltd. (Series 2023-1) catastrophe bond deal, which will settle at $195 million in size becoming its largest cat bond sponsored to-date.