Reinsurance News
Your search for “catastrophe bond”
Reinsurers mostly view global catastrophe risks as well priced, says KBW
19th September 2023
Following meetings with executives at the recently held 2023 Rendez-Vous de Septembre (RVS) in Monte Carlo, KBW has reported that the majority of reinsurers view global catastrophe risks as well priced, with overall risk-adjusted rates expected to be flat to up modestly at the January 1st, 2024, renewals. Flat to modestly ... Read the full article
First half cat bond issuance levels likely to drive future ILS market growth, says Moody’s
18th September 2023
A recent Moody’s report highlights the record level of issuance seen in the catastrophe bond market during the first half of the year, which at $10.3 billion, is expected to drive future growth in the insurance-linked securities (ILS) asset class. Cat bond issuance by the middle of August had exceeded the ... Read the full article
Reinsurance industry navigates changing landscape of alternative capital and cat bonds: Goldman Sachs
13th September 2023
Goldman Sachs, a prominent player in the financial industry, has offered insights into the evolving landscape of reinsurance structures, which are seeing primary retentions shift higher, and the growing interest in alternative capital funding, signifying significant changes in the reinsurance market. One key trend identified by Goldman Sachs is the shift ... Read the full article
Acrisure Re names Kriesch & Witteveen as Managing Directors for Cat Bond Solutions
10th September 2023
Acrisure Re, the reinsurance division of global fintech Acrisure, has announced the appointment of Sandro Kriesch and Patrick Witteveen as Managing Directors of Catastrophe Bond Solutions within its Corporate Advisory and Solutions (ARCAS) division, effective immediately. Based in Zurich, they will report to Ben Canagaretna, the Global Managing Director of ARCAS. Kriesch ... Read the full article
Record cat bond issuance boosts ILS market: AM Best
6th September 2023
In a recent market analysis, AM Best's report reveals that the insurance-linked securities (ILS) market is experiencing favourable conditions, resulting in advantageous terms and conditions for renewed and new programs. This has led to a significant surge in yields for both ILS funds and catastrophe bonds. The report, titled "Cat Bonds ... Read the full article
RenRe secures $350.5 million for cat bond strategies in Q2 2023
26th July 2023
RenaissanceRe (RenRe), the Bermuda headquartered global reinsurance firm and third-party capital management specialist, has reported raising $350.5 million of third-party capital largely for catastrophe bond strategies during the second-quarter of 2023. The company said it has raised $170.5 million from investors for its Medici fund strategy, and also raised a further ... Read the full article
SageSure and Anchor Re successfully close $50 million cat bond
24th July 2023
SageSure, a provider of catastrophe-exposed property insurance, and Anchor Re, a captive reinsurance vehicle, have jointly announced the successful closure of Anchor Re's debut $50 million catastrophe bond. The transaction, named Gateway Re Series 2023-3, was priced below the initial guidance, reflecting strong investor support. The cat bond provides multi-year retrocessional ... Read the full article
Swiss Re structures Blackstone’s first indemnity cat bond
20th July 2023
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 250 million of insurance-linked securities issued with respect to certain real estate funds managed or controlled by affiliates of Blackstone Inc. under Wrigley Re Ltd. This Wrigley Re Ltd. (Series 2023-1) transaction is Blackstone's first indemnity cat ... Read the full article
Slide secures additional $100m named storm reinsurance protection with second cat bond
13th July 2023
Slide Insurance, a full-stack insurtech focused on providing affordable, effective homeowners coverage, has announced it has finalized pricing for its latest catastrophe bond, closing the $100 million Purple Re Ltd. (Series 2023-2) transaction. This is the second cat bond sponsored by Slide this year, following the initial $100 million ... Read the full article
Cat bond market sees strong growth, setting pace for record year: Aon
4th July 2023
The catastrophe bond market has experienced a remarkable surge, with an 8%, or $2.8 billion increase in outstanding notional value since the beginning of the year, according to Aon's Reinsurance Market Dynamics report. With robust new issuance volumes, industry experts anticipate that 2023 is poised to become a record-breaking year, with ... Read the full article
Insured catastrophe losses in Q2 2023 should be less than $10bn: JP Morgan
30th June 2023
Insured losses from major natural catastrophes in the second quarter of 2023, driven by storms in the US, are estimated to be less than $10 billion, JP Morgan has revealed. This includes ~$7 billion from the US storms during the month of June, which analysts estimate to be the largest contributor ... Read the full article
BMS Re names Brendan O’Brien as VP to support cat bond trading
20th June 2023
BMS Re, the specialty reinsurance arm of the global broking group BMS, has appointed Brendan O’Brien as Vice President, based in Bermuda. O’Brien joins BMS Re from Assured Guaranty Re’s structured finance division, where he served as an underwriter. Before this, O’Brien was at Nephila Capital Limited for six years, a role ... Read the full article
Climate Resilient Development Bond proposed by Guy Carpenter
8th June 2023
Guy Carpenter, in collaboration with Dr Franziska Arnold-Dwyer from Queen Mary University of London, has announced the proposal of a Climate Resilient Development Bond (CRD Bond), a new re/insurance structure designed to address climate risk at scale. In a recently published briefing document, the reinsurance broker outlines a CRD Bond structure, ... Read the full article
SURE and SageSure close $100m cat bond to reinsure second and subsequent events
7th June 2023
SageSure, a provider of catastrophe-exposed property insurance, and SureChoice Underwriters Reciprocal Exchange, a policyholder-owned insurer, have announced that SURE has closed a $100 million catastrophe bond to provide reinsurance for second and subsequent events. The catastrophe bond was upsized by 33% from the transaction’s initial $75 million target, with pricing more ... Read the full article
Toka Tū Ake EQC renews record reinsurance program, gets first cat bond
31st May 2023
New Zealand’s state-owned residential property disaster insurance entity, Toka Tū Ake EQC, has completed a renewal for a record level of reinsurance of just under $8.2 billion for New Zealand homeowners, including reinsurance via catastrophe bonds, which it has secured for the first time. Toka Tū Ake EQC Chief Executive, Tina ... Read the full article