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.
Swiss Re places Frontline’s debut $350m catastrophe bond
11th July 2018
Swiss Re Capital Markets has successfully structured the issuance of a $350 million insurance-linked security transaction by Frontline Re on behalf of Frontline Insurance, the largest for a Florida insurer since 2014. "Swiss Re is pleased to provide support to Frontline on its debut catastrophe bond issuance,” commented Jean-Louis Monnier, Co-Head of ... Read the full article
Catastrophe bond & ILS market is going from “strength to strength”
10th July 2018
Catastrophe bond and insurance-linked securities (ILS) issuance was at the second highest level ever recorded during the second-quarter of 2018, with $5.16 billion generated from 26 deals and 46 tranches of notes, according to Artemis' Q2 2018 Catastrophe Bond & ILS Market Report. When combined with the record-breaking level ... Read the full article
JLT Capital Markets completes placement of $45mn Oak Leaf Re cat bond
28th June 2018
Jardine Lloyd Thompson Capital Markets (JLTCM), an affiliate of reinsurance brokerage firm JLT Re (North America), has completed another private placement catastrophe bond, Oak Leaf Re 2018-1, which closed at $45.26 million. Oak Leaf Re 2018-1, which was sponsored by Southern Oak Insurance Company, is an Ultimate Net Loss (UNL) indemnity-based ... Read the full article
TWIA buys $1.4bn reinsurance cover at 2018 renewal
19th June 2018
The Texas Windstorm Insurance Association (TWIA) has secured $1.4 billion of cover for its 2018 reinsurance programme via $1.0 billion in traditional reinsurance and the issuance of a $400 million, 3-year catastrophe bond. TWIA’s 2018 reinsurance program runs from June 1, 2018 to May 31, 2019, and provides $4.6 billion in ... Read the full article
SCOR announces landmark $300m Atlas Capital UK 2018 cat bond
1st June 2018
France-based reinsurance company SCOR has announced today the successful sponsorship of its new $300 million Atlas Capital UK 2018 catastrophe bond, the first of its kind following new UK legislation. The multi-year collateralised deal will protect SCOR from named storms in the U.S., earthquakes in the U.S. and Canada, and windstorms ... Read the full article
FEMA to transfer National Flood Insurance Program risk to capital markets
4th April 2018
The Federal Emergency Management Agency (FEMA) has announced plans to de-risk the U.S National Flood Insurance Program (NFIP) with additional reinsurance by engaging the capital markets through an insurance-linked securities (ILS) transaction scheduled for July 2018. FEMA claims this new ‘building block’ will allow it to transfer risk through both traditional ... Read the full article
World Bank issues $1.36bn first-ever multi-country earthquake cat bond
7th February 2018
The World Bank has issued a first-of-its kind multi-country earthquake catastrophe bond that provides a total of US$1.36 billion in earthquake protection to Chile, Colombia, Mexico and Peru. The earthquake bond is the second largest in the history of the catastrophe bond market and is the largest ever sovereign risk insurance ... Read the full article
JLT Re announces $14.5 mn private placement weather cat bond
22nd December 2017
JLT Re North America (NA) subsidiary, Jardine Lloyd Thompson Capital Markets (JLTCM), has announced another private placement catastrophe bond, Market 2017-2 (Weather), which closed at $14.50 million. The bond provides single year parametric-based collateralized retrocession coverage for warm-weather winters across Europe. Michael Popkin, Managing Director and Co-Head of Insurance-Linked Securities at JLTCM, ... Read the full article
Mexico secures $360 million of catastrophe cover with World Bank cat bond
4th August 2017
Mexico has secured $360 million of protection against earthquake and tropical cyclone risks via a catastrophe bond transaction from the World Bank, which has now completed. The deal is structured into three tranches, with one providing protection against Mexico earthquakes, one against Atlantic tropical cyclones, and one providing coverage against Pacific ... Read the full article
Reinsurance industry helps World Bank secure $500m pandemic facility backing
29th June 2017
The global reinsurance industry has collaborated with and assisted the World Bank's launch of specialist bonds to support the $500 million Pandemic Emergency Financing Facility (PEF), which is designed to rapidly disburse funds to eligible countries facing a major disease outbreak. In response to the high financial, social and economic loss driven ... Read the full article
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