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.
2021 marks a record year for catastrophe bond issuance: Report
6th January 2022
Catastrophe bond and related insurance-linked securities (ILS) issuance reached a huge $14 billion in 2021, representing year-on-year growth of 15%, reports Artemis. The latest quarterly report on the catastrophe bond and related ILS market, which examines issuance in the fourth-quarter and full-year 2021, is now ... Read the full article
Farmers Insurance closes $160m Topanga Re cat bond
24th December 2021
Farmers Insurance has successfully closed a $160 million 144A catastrophe bond completed through Topanga Re Ltd. The company entered into a multi-year reinsurance arrangement with Topanga Re, a newly established special purpose insurer in Bermuda which provides Farmers with indemnity-based coverage. The catastrophe bond was designed to integrate into Farmers' existing traditional ... Read the full article
Ariel Re sponsors its second cat bond of 2021
22nd December 2021
Ariel Re, a multi-line reinsurer which operates principally through Syndicate 1910 at Lloyd's, has sponsored a catastrophe bond issued by a Bermudian special purpose insurer Titania Re Ltd. (Series 2021-2). The latest cat bond from Ariel Re provides the company with $175 million of multi-year collateralised reinsurance protection against North ... Read the full article
TISE lists first humanitarian cat bond
29th November 2021
The International Stock Exchange (TISE) has listed the world's first humanitarian catastrophe bond, which covers pure volcanic eruption. The bond was issued by Dunant Re IC, an Incorporated Cell of Replexus ICC (Guernsey), and has been listed on TISE's Qualified Investor Bond Market (QIBM) and admission to its sustainable market segment, TISE ... Read the full article
TWIA may drop broker GC in favour of Willis Re, with Aon preferred for modelling services
3rd November 2021
The Texas Windstorm Insurance Association (TWIA) looks set to pivot towards Willis Re for its reinsurance broking needs following a meeting of its actuarial & underwriting committee. This switch would see TWIA terminate its current broking relationship with broking rival Guy Carpenter. The committee, which is reported to have considered Guy Carpenter ... Read the full article
Catastrophe bonds & related ILS to break records in 2021: Report
5th October 2021
Catastrophe bond and related insurance-linked securities (ILS) issuance was strong in the third-quarter of 2021, setting a new quarterly record at more than $2.6 billion, according to the latest report and data from ILS-focused sister site, Artemis. Artemis' latest quarterly report on the catastrophe ... Read the full article
China Re sponsors first Hong Kong cat bond, Greater Bay Re
1st October 2021
State-owned reinsurer China Re has secured $30 million of typhoon cover as the sponsor of the first catastrophe bond to be issued out of Hong Kong. According to reports from our ILS-focused sister publication, Artemis, the now-completed Greater Bay Re Ltd. (Series 2021-1) cat bond was privately marketed to a ... Read the full article
Jamaica sponsors first ever, $185mn cat bond
20th July 2021
The World Bank has priced a catastrophe bond that will provide Jamaica’s Government with $185 million cover against named storm losses over the next three Atlantic tropical cyclone seasons. Jamaica is the first government in the Caribbean region to independently sponsor a cat bond. Back in 2014, the country was one of the ... Read the full article
Cat bond & related ILS issuance sets new record in Q2 2021 at $8.5bn: Report
1st July 2021
Catastrophe bond and related insurance-linked securities (ILS) issuance reached a record $8.5 billion in the second quarter of 2021, of which almost $6 billion or more than 70% covered property catastrophe risks, according to the Artemis Q2 2021 market report. The latest Artemis cat bond and ILS market report, ... Read the full article
Ariel Re sponsors its first 144a catastrophe bond
18th June 2021
Bermudian reinsurer Ariel Re is sponsoring its first 144A index-triggered catastrophe bond, which is being issued by Bermuda special purpose insurer Titania Re. Titania Re will provide $150 million of multi-year collateralised reinsurance protection to Ariel Re structured using an indexed industry loss trigger. The company's inaugural cat bond provides it ... Read the full article
Cat bond growth propelled by strong investor demand: Moody’s
17th June 2021
Moody’s has reported that the catastrophe bond market saw record issuance in 2020 despite a brief pause in Q2 following a particularly tumultuous period for the financial markets. And looking ahead through 2021, the rating agency expects cat bond issuance to continue to grow with strong investor demand for the ... Read the full article
Hurricane-exposed cat bond issuance robust in 2021, says Fitch
9th June 2021
The demand for hurricane-exposed catastrophe bonds has continued at a steady pace for the first half of this year, say analysts at Fitch Ratings. According to the Artemis Deal Directory, so far this year sixteen catastrophe bonds have been issued or are expected to be issued under SEC rule 144A, ... Read the full article
Vantage Risk sponsors first 144A index-triggered cat bond
7th May 2021
Recently launched Bermudian reinsurer Vantage Risk has sponsored its first 144A index-triggered catastrophe bond transaction, Vista Re Ltd. Vista Re Ltd. will provide Vantage with multi-year risk transfer capacity on an indexed basis to protect against the aggregation of US named storm and North American earthquake risk. The bond was upsized from ... Read the full article
First-quarter catastrophe bond & ILS issuance robust again at $4.63bn: Report
1st April 2021
Data from Artemis' Q1 2020 catastrophe bond and insurance-linked securities (ILS) market report shows that issuance hit a huge $4.63 billion in the period, making it the second most active first quarter in the market's history. The latest quarterly report on the catastrophe bond and related ILS market, 'Upsizing ... Read the full article
Palomar returns to cat bond market for $400m of earthquake reinsurance
1st April 2021
Palomar Holdings, Inc., through its wholly-owned subsidiaries Palomar Specialty Insurance Company and Palomar Excess and Surplus Insurance Company, has closed a $400 million 144A catastrophe bond transaction through Torrey Pines Re Pte. Ltd. Palomar and Torrey Pines Re, a special purpose insurer established in Singapore, entered into a multi-year reinsurance arrangement ... Read the full article
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