Reinsurance News
catastrophe bonds
Catastrophe bonds are an insurance-linked securities (ILS) instrument, where insurance and reinsurance related risks are transferred to the capital markets in Rule 144A securitized formats.
Read our catastrophe bond news and analysis below.
Wave of new sponsors help Q2 catastrophe bond issuance hit $5.2bn: Report
5th July 2022
Artemis' second-quarter 2022 catastrophe bond and related insurance-linked securities (ILS) market report pegs issuance at approximately $5.2 billion for the period, which takes the outstanding market to a new high of $38.2 billion. The Artemis Q2 2022 Catastrophe Bond and ILS Market Report, which examines 27 transactions ... Read the full article
Allstate lifts Florida reinsurance coverage by ~$600m at renewals
17th June 2022
After adding some $850 million of coverage to its Nationwide Excess Catastrophe Reinsurance program in the first-quarter of 2022, US primary insurer Allstate has secured almost $600 million of additional protection for its Florida Excess Catastrophe Reinsurance program for 2022-2023. In early May, Allstate provided an update on its reinsurance ... Read the full article
Allstate raises catastrophe reinsurance coverage by $850m
5th May 2022
US primary insurer Allstate has expanded its per-occurrence Nationwide Excess Catastrophe Reinsurance programme for 2022-2023 to provide coverage up to $6.614 billion of losses, less a $500 million retention. In Q1 2022, Allstate completed the renewal of some of its catastrophe reinsurance placements for 2022-2023, specifically its Nationwide Excess Catastrophe Reinsurance ... Read the full article
Kin secures $175m in first cat bond issuance
19th April 2022
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has closed a $175 million private placement catastrophe bond transaction. The transaction represents Kin’s first foray into the capital markets, with the coverage set to provide the Kin Interinsurance Network with indemnity-based coverage for large hurricanes ... Read the full article
Swiss Re secures $1.15bn hybrid bank financing / ILS deal for group-wide losses
14th April 2022
Reinsurance giant Swiss Re has partnered with J.P. Morgan and institutional investors to complete an innovative, first of its kind hybrid transaction which combines bank financing and insurance-linked securities (ILS), securing $1.15 billion in protection for severe underwriting-related losses. For this innovative multi-year stop-loss transaction, J.P. Morgan provides $1 billion in ... Read the full article
Cat bond issue in Q1 2022 continued 2021 boon: Gallagher Re
11th April 2022
Cat bond issue in Q1 2022 was a continuation of the boon year that was 2021, according to Gallagher Re’s latest 1st View. This was, said the firm, seen in both terms of deal count and the total volume of issuance. These numbers reflect the latest data from our insurance-linked securities ... Read the full article
Inigo launches Montoya Re catastrophe bond
5th April 2022
Inigo has completed its first catastrophe bond deal, a Montoya Re Series 2022-1 transaction through which it has secured peak catastrophe peril reinsurance capacity from capital market investors. The cat bond was launched 1 April and is a $115m transaction covering earthquake and windstorm risk in the US, Canada, and ... Read the full article
Busy first quarter sees outstanding cat bond & ILS market hit new high: Report
4th April 2022
Data from our insurance-linked securities (ILS) focused sister site, Artemis, shows that catastrophe bond and related ILS issuance surpassed $3.5 billion in the first-quarter of 2022, taking the outstanding market to a new record high of approximately $37.5 billion. Artemis' latest quarterly report on the market, Q1 ... Read the full article
Pool Re renews and upsizes terror cat bond
9th March 2022
UK government-backed terrorism reinsurer Pool Re has completed the placement of its second terrorism ILS catastrophe bond, following the maturing of its original issuance from 2019. Issued through a UK domiciled special-purpose vehicle, Baltic PCC Ltd., the 2022 notes were issued in a 144A format. The bond increased in size to £100 ... Read the full article
FEMA taps capital markets for $450m of flood reinsurance for NFIP
24th February 2022
The U.S. Federal Emergency Management Agency (FEMA) has again turned to the capital markets to secure an additional $450 million of reinsurance for the National Flood Insurance Program (NFIP), via its fifth FloodSmart Re Ltd. catastrophe bond transaction. The issuance of FloodSmart Re Ltd. (Series 2022-1), FEMA's special purpose insurer, ... Read the full article
Hannover Re transfers record $2.7bn+ in cat bonds
21st February 2022
Last year, Hannover Re transferred over $2.7 billion in catastrophe bonds spread across 11 bonds to the capital market for its clients breaking record volume. The reinsurer facilitated for its customers the placement of covers against losses from natural disasters such as floods, storms, earthquakes and wildfires on the capital market. The ... Read the full article
Pool Re sponsors second catastrophe bond
17th February 2022
UK government-backed terrorism reinsurer Pool Re has returned to the capital markets to renew its Baltic terrorism cat bond in a £75 million deal. The Baltic PCC Limited (Series 2022-1) cat bond issuance will follow on from Pool Re’s first cat bond issuance in 2019, which matures at the end of ... Read the full article
NN Re picks RMS for risk analysis on Orange Capital Re bond
11th February 2022
Risk modelling and solutions company RMS has been choosen by NN Re to conduct the risk analysis for its new catastrophe bond, issued through Orange Capital Re DAC. NN Re, which is the reinsurance and hedging company of NN Group, an international financial services company, issued Orange Capital Re DAC ... Read the full article
Philippines set for $52.5m payout as typhoon Rai (Odette) triggers cat bond
25th January 2022
The government of the Philippines is set to receive a $52.5 million payout under its World Bank issued catastrophe bond, after risk modeller and calculation agent AIR Worldwide determined that super typhoon Rai (locally known as Odette) breached the trigger for wind. As first reported by Artemis, the Philippines government ... Read the full article
Toa Re Europe sponsors $25mn private cat bond
10th January 2022
Toa Re Europe, the Switzerland-based European reinsurance arm of Japanese group Toa Reinsurance Company, has sponsored $25 million of Silver Crane three-year catastrophe notes with selected investors. This private catastrophe bond will further develop Toa Re Europe’s collaboration with capital market partners, along with the renewal of its predecessor Blue Crane, ... Read the full article
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