Category: News Review Archive

News review | March 04 2019

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Pool Re, Britain’s state-backed terrorism reinsurer, has completed placement of its £2.3 billion retrocession programme with more than 50 international reinsurers. The £2.3 billion includes £75m provided under Pool Re’s terrorism...

News review | Monday 12 February 2019

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Third-party investors in the property catastrophe reinsurance industry have become increasingly sceptical following the 2018 cat season, as they have seen capital trapped for a second consecutive year, according to AM Best. It refers...

News review | February 04 2019

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It is anticipated that the Atmos Re DAC catastrophe bond transaction will now get issued for sponsoring Italian primary insurer UnipolSai Assicurazioni SpA, but at half the initial size and at higher pricing, as the riskier layer...

News review | January 21 2019

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UK terrorism reinsurer Pool Re is seeking to raise $96m from the Baltic Re cat bond, which will provide it with cover against acts of terrorism in the UK. The cat bond follows reports in September that the reinsurer was looking to...

News review | January 03 2019

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Insurance linked securities (ILS) rates have increased by as much as 20 percent on the back of adverse 2017 loss development and this year’s hurricanes and wildfires, according to data from Lane Financial. The company’s ILS rate-on-line...

News review | December 03 2018

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Italian primary insurer UnipolSai Assicurazioni has returned to the cat bond market for its first severe weather linked catastrophe bond, a €90m Atmos Re DAC transaction that seeks to provide the insurer with broad coverage for...

News review | Monday 19 November 2018

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The California State Compensation Insurance Fund is seeking $225m from a renewal of its Golden State Re cat bond to cover US earthquake risk. The four-year Golden State Re II transaction is being offered with a spread of 190-220...

News review | November 05 2018

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USAA has returned to the cat bond market for the second time this year with a high-risk ILS transaction. The $150m Residential Reinsurance 2018-II cat bond will provide the insurer with US multi-peril protection on an indemnity per...

News review | October 15 2018

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The SD Re Ltd (Series 2018-1) catastrophe bond transaction, which will be the second California wildfire cat bond covering third-party liability costs, has not grown in size while being marketed, remaining at $125m while the pricing is expected to...

News review | October 08 2018

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Three cat bond lites have been extended, according to Bermuda Stock Exchange listings. The maturity date of the Loma Re Series 2013-1 Class C has been extended until 8 January. Meanwhile Hannover Re has extended the maturity of a...

News review | October 01 2018

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The World Bank has approved a $2.5m grant to the government of the Marshall Islands, providing funding for five more years of premiums for disaster risk insurance under the Pacific Catastrophe Risk Assessment and Finance...

News review | September 24 2018

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Top-three broker Marsh & McLennan Companies it to acquire Jardine Lloyd Thompson Group plc. Total cash consideration equates to $5.6 billion. "The acquisition of Jardine Lloyd Thompson creates a compelling value...

News review | September 17 2018

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The catastrophe bond market remained relatively stable under the threat from Hurricane Florence, with one of the main indices used to track the value of outstanding cat bonds only registering a 1.15% decline at the end of the week. The Swiss...

News review | Monday 10 2018

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Markel has announced it will acquire ILS fund giant Nephila to create an entity with combined assets under management of $19 billion, representing 20% of the ILS sector. Frank Majors, Nephila's Co-CEO, said, "Markel...

News review | Monday 03 September 2018

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USAA is moving a little closer to understanding just how big a recovery it can make from ILS investors against the reinsurance provided by its Residential Re catastrophe bond series, now opting to repay $20m of the extended notes...

News review | August 27 2018

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The California Earthquake Authority, the not-for-profit residential earthquake insurance provider, is returning to the capital markets for another slice of reinsurance protection with a new Ursa Re Ltd. (Series 2018-1) catastrophe...

News review | Monday 13 2018

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A number of industry-loss warranty (ILW) contracts providing retrocessional reinsurance are set to pay out after the latest updates to third-party data providers estimates of insurance industry losses caused by last year’s Hurricane Irma....

News review | July 30 2018

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The first catastrophe bond to transfer a portion of the National Flood Insurance Program’s (NFIP) risk to the capital markets will increase significantly in size, as the FloodSmart Re Ltd. (Series 2018-1) issuance is understood...

News review | July 23 2018

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A new catastrophe bond is seeking to transfer some US flood risk from the public sector to the private market for the first time. The bond will be issued through FloodSmart Re, a Bermudian special purpose insurer, and will seek to provide $275m of...

News review | July 16 2018

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The first pure wildfire exposed catastrophe bond has come to market, as California focused electrical utility PG&E Corporation (the Pacific Gas and Electric Company) turns to the capital markets and ILS investors as a source...

News review | July 09 2018

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Swiss Re Capital Markets structured and placed the issuance of $350m of insurance-linked securities by Frontline Re Ltd on behalf of Frontline Insurance in its debut catastrophe bond. The issuance, which covers named storms in Alabama,...

News review | July 02 2018

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A renewal catastrophe bond transaction has been launched for a novel parametric deal that ultimately provides workers compensation protection to an insured, with a $300m Acorn Re Ltd. (Series 2018-1) transaction that seeks parametric earthquake cover...

News review | June 18 2018

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The Federal Emergency Management Agency, which started buying reinsurance last year for the National Flood Insurance Program, is now exploring the expansion of the program, according to spokesman Michael Hart. FEMA worked through...

News review | June 11 2018

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Investors in the Lottoland sponsored lottery jackpot insurance-linked securities and collateralised reinsurance are set to be on the hook for some level of payout after a €90m win by a customer triggered payouts through the firms...

News review | June 04 2018

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SCOR has commented on the successful issuance of the $300m Atlas Capital UK 2018 catastrophe bond, which is the first to utilise the new UK ILS regime. "Being the first company to sponsor a cat bond on the London market shows SCOR's...