reinsurance

Having recently completed the sponsorship of its first ever catastrophe bond, Hong Kong headquartered global reinsurer Peak Reinsurance Company (Peak Re) wants to play an important role in helping to develop Asia’s insurance-linked securities (ILS) market and building regional resilience.

Eclipse Re Ltd., the Artex-managed and operated private syndicated collateralised reinsurance note, private catastrophe bond issuance and reinsurance transformer platform, has completed the issuance of an $8.73 million Eclipse Re Ltd. (Series 2022-2A) transaction in recent days.

Acrisure, the expansive insurance and reinsurance broking group, has seen its valuation spike by 31% in little over a year to $23 billion, as the firm announces the closure of $725 million in additional funding to fuel further growth.

Weston Property and Casualty Insurance, a coastal risk focused insurance carrier majority owned by insurance-linked securities (ILS) investment manager Hudson Structured Capital Management (investing as HSCM Bermuda), has now secured its first Marlin Re Ltd. (Series 2022-1) catastrophe bond at $45 million in size, with pricing now fixed at the top of elevated guidance.

April 2022 saw insurance-linked securities (ILS) fund strategies deliver a third month in a row of relatively muted performance, with pure catastrophe bond fund strategies suffering the price related effects of spread widening in the marketplace.

IQUW, the rebranded ARCUS 1856 Syndicate at Lloyd’s, has made some additions to its reinsurance team, including the appointment of Helen Thornton from Nephila Capital as Chief Financial Officer (CFO) of its Bermuda reinsurance operation and Group Head of Finance.

Louisiana Citizens Property Insurance Corporation, the non-profit residential and commercial property insurer for those who cannot access private market insurance in the state, eventually secured its latest Catahoula II Re Pte. Ltd. (Series 2022-1) catastrophe bond to provide it $175 million of capital markets backed reinsurance.

The new Yosemite Re Ltd. (Series 2022-1) catastrophe bond that will protect Core Specialty-owned insurers under the StarStone brand to begin has now been priced at a slightly reduced $65 million in size, with a coupon at the top-end of guidance, Artemis can report.

US primary insurer The Hanover Insurance Group, Inc. is out in the market seeking its first ever catastrophe bond, with a $100 million Commonwealth Re Ltd. (Series 2022-1) deal that targets US named storm reinsurance protection for the company.

Florida’s primary property insurance carriers that are reliant on reinsurance still face an “existential challenge” as global reinsurance firms remain reluctant to assume risks in the state, AM Best has said.