reinsurance

Index-based risk transfer has a key societal role to play, in providing protection to support issues such as the renewable energy transition, covering extreme weather catastrophe events, and helping support access to scarce resources, newly renamed Speedwell Climate has said.

Aura Underwriting, which is part of global specialty insurance and reinsurance MGA Rokstone, has launched a new Caribbean parametric product which provides reinsurance for hurricanes, with qualifying claim payouts in days.

AXA Climate, the parametric specialist risk transfer managing general agent (MGA) unit of global insurance and reinsurance company AXA, has partnered with Hailios, a company that leverages technology and sensors to help close gaps in hail protection.

United Insurance Holdings Corp., also known as UPC Insurance, has completed its catastrophe reinsurance renewals, with its towers shrinking by $460 million of limit, its quota share being reduced by 5%, while costs per unit of limit look up slightly over the purchase.

The catastrophe bond market, which has experienced a prolonged period of spread widening through much of the second-quarter, is now seemingly becoming more balanced, as a greater equilibrium between supply and demand is found, resulting in more attractive execution for four recent cat bond sponsors.

AXIS Capital, the global specialty insurance and reinsurance underwriter, is now aiming to secure an upsized $140 million of peak-peril catastrophe reinsurance protection from its new Northshore Re II Ltd. (Series 2022-1) catastrophe bond issuance.

Here are the ten most popular news articles, week ending June 19th 2022, 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.

In another sign of increasing equilibrium in the catastrophe bond market, first time sponsor The Hanover Insurance Group, Inc. has secured its Commonwealth Re Ltd. (Series 2022-1) cat bond at the upsized $150 million target, with pricing finalised at the low-end of initial guidance.

Global insurance and reinsurance company Everest Re is set for a successful new catastrophe bond issuance, with the Kilimanjaro III Re Ltd. (Series 2022-1) transaction now having priced at the upsized $300 million, with a coupon fixed at the mid-point of initial guidance.

Ryan Mather, CEO at reinsurer Ariel Re, says his company is looking to take advantage of the comparatively muted conditions in the third party capital markets as it seeks to grow and diversify its sources of protection.