reinsurance

For investors considering entering the catastrophe bond market, or increasing their allocations to it, during this period of multi-year high cat bond spreads, “speed is of the essence” according to investment manager Twelve Capital, as this opportunity won’t last for long.

Global reinsurance firm TransRe has now secured its new Bowline Re Ltd. (Series 2022-1) catastrophe bond at a slightly below target $165 million in size, while all three tranches of notes seeing their coupons priced above the initial guidance levels.

Having previously warned that the Florida insurance market has spent the last 30 years kicking the can of its problems down the road, a road that is now running out, ALIRT analysis now suggests the market is at a “flash point” moment, where it risks reinsurance capital pulling-back even more significantly.

Vesttoo has hired a Chief Financial Officer as it continues to add all-important expertise and depth to its executive bench, naming former Prudential and Goldman Sachs banker Gaurav Wadhwa to the position.

Further details of under pressure U.S. primary insurance carrier group FedNat’s plan to reduce its scale and refocus its business on Florida have emerged in a filing with the regulator, that details a significant cancellation of policies and potential sale and recapitalisation of its carrier Monarch.

Having already been triggered and paid out US $52.5 million, we’ve now learned the Philippines governments World Bank issued IBRD CAR 123-124 catastrophe bond will not face any additional loss of principal because of the rainfall from super typhoon Rai (locally known as Odette).

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 is planning to expand its open market business to benefit from hard market conditions.

Rating agency AM Best has highlighted the ongoing de-risking and re-underwriting process being undertaken by Class 3A Bermuda based reinsurer Lumen Re, which is 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.

Here are the ten most popular news articles, week ending May 15th 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.

Investors are becoming increasingly engaged in understanding how climate change could affect portfolios of insurance-linked securities (ILS) and the work that is being done at investment managers to understand that, with many taking the time to “come back to the table”, according to Aeolus Capital Management’s Frank Fischer.