reinsurance

Insurance claims from recent days of severe storms and hail across Queensland and New South Wales in Australia are rising still, with this weather catastrophe set to be the most costly of the current financial year so far for the domestic market insurers.

Progressive, the US insurance company, is back in the catastrophe bond market seeking a $70 million or greater one-year source of annual aggregate and multi-peril reinsurance protection from the capital markets, through a Bonanza Re Ltd. (Series 2025-1) issuance, Artemis understands.

The North Carolina Farm Bureau has now secured the 54% upsized $500 million of reinsurance limit from its new Blue Ridge Re Ltd. (Series 2025-1) catastrophe bond issuance, while pricing settled well below guidance for most of the tranches of notes on offer, Artemis has learned.

Blockchain-backed reinsurer Re has announced the deployment of $134 million in reinsurance capital across multiple programs as the industry begins to head into the key January renewals season.

Suncorp Group, the Australian primary insurance giant, looks set to make reinsurance recoveries to help it manage losses from the recent South East Queensland severe thunderstorms and hail, with the company saying the net cost is expected to be at its full reinsurance retention.

Cincinnati Insurance Companies has returned to the catastrophe bond market for the first time since 2017, seeking $150 million or more in fully-collateralized reinsurance from the capital markets with a Skyline Re II Ltd. (Series 2025-1) deal that will cover certain losses from multiple US perils, Artemis has learned.

Mapfre Re’s second successful sponsorship of a 144A catastrophe bond and the fact the Recoletos Re DAC (Series 2025-1) deal upsized to provide €125 million of annual aggregate European windstorm retrocession demonstrates the cat bond market’s confidence in the reinsurance company, CEO Miguel Rosa said this morning.

The Insurance Council of Australia (ICA) has declared an Insurance Catastrophe for the strong winds and damaging hail that affected South East Queensland between Sunday, November 23, and Monday, November 24, with the firm noting that insurers have already received more than 16,000 claims.

The North Carolina Farm Bureau has now raised the target size for its latest catastrophe bond sponsorship, with protection from the Blue Ridge Re Ltd. (Series 2025-1) cat bond issuance now expected to fall between $475 million and as much as $500 million, while the price guidance has been reduced for three of the tranches […]

Following its entry into the insurance-linked securities (ILS) space through its partnership with Cedar Trace Group, Sage Advisory Services is looking to expand its range of investment solutions. The company aims to offer investors new sources of return with low correlation to traditional capital markets and business cycles.