reinsurance

In a new report, rating agency Moody’s Investors Service has highlighted the much improved outlook for reinsurance-linked returns, through its comments on the big four reinsurers.

The World Bank has assisted in the structuring of a cyclone reinsurance arrangement to protect Mozambique’s state insurer against the impacts of major storms, working alongside parametric insurtech PULA and managing general agent Africa Specialty Risks (ASR).

Convex Group, the specialty insurance and reinsurance company, has raised the target for its new Hypatia Ltd. (Series 2023-1)  catastrophe bond issuance to as much as $150 million, a potential 50% increase, while aiming to lower the spread pricing below the initial guidance.

American Integrity Insurance Company of Florida, Inc. has now lifted its target for the Integrity Re Ltd. (Series 2023-1) catastrophe bond issuance, with a potential 50% upsizing now sought, as the company aims for $150 million of collateralized Florida named storm reinsurance with this deal.

Tremor Technologies, the insurtech operator of a programmatic risk transfer marketplace, has unveiled a range of cross-placement optimisation tools which it says enables buyers of reinsurance protection to achieve best execution for all of their reinsurance placements at the same time.

US primary insurance giant Allstate has lifted the target for its new Sanders Re III Ltd. (Series 2023-1) catastrophe bond to as much as $250 million, but at the same time we’re told the riskiest zero-coupon Class C tranche of notes may now not be placed.

Global reinsurance company Swiss Re has estimated that 2022 saw $125 billion of insured natural catastrophe losses, which the company explains was a story of rising property exposure, rather than extreme events.

The Andover Companies, a large mutual insurance group in the Northeast US, is seeking even more favourable execution for its debut Locke Tavern Re Ltd. (Series 2023-1) catastrophe bond issuance, with the size target narrowed towards the upper-end, while a second update to spread guidance suggests a ~17% price drop is possible.

Security First Insurance Company, the Florida domestic homeowners insurer, is now targeting lower pricing for its new First Coast Re IV Ltd. (Series 2023-1) catastrophe bond issuance, while the size target hasn’t changed at $100 million, we are told.

The crisis being seen in banking sectors, most prominently with the failure of Silicon Valley Bank and sale of Credit Suisse to UBS, is not a crisis of the insurance sector, and there are no fundamentals to support the recent revaluation of insurance debt, Plenum Investments has stated.