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.
Helene and Milton losses below $200m retention of Progressive’s occurrence XoL reinsurance
15th October 2024
Progressive, the property and auto-focused insurance group, has revealed that incurred property losses and allocated loss adjustment expenses (ALAE) related to hurricanes Helene and Milton did not exceed the $200 million retention under its occurrence excess of loss (XoL) reinsurance program, but it's currently unclear as to how the storms ... Read the full article
A quiet Q3, but 9M 2024 catastrophe bond issuance hits $13.2 billion: Report
14th October 2024
Third quarter catastrophe bond and related insurance-linked securities (ILS) issuance was muted at $573 million, but sufficient to take issuance for the first nine months of the year to a new high of $13.2 billion, according to Artemis. Now available to download for free, the Artemis Q3 ... Read the full article
Register now for Artemis’ ILS Market Outlook 2025 live webinar
4th September 2024
Our insurance-linked securities (ILS) focused sister publication, Artemis has partnered with Wilmington Trust to host a live webinar on October 31st, 2024, during which four ILS sector experts will discuss the catastrophe bond and broader ILS marketplace. Registration is now open to attend this free Artemis Live ... Read the full article
$45.5m Randolph Re wildfire private cat bond first issued using a Guernsey PCC
3rd September 2024
Aon, via its protected cell company White Rock Insurance Company PCC Limited, has facilitated a new $45.5 million Randolph Re private catastrophe bond, marking the first time a cat bond has been issued using a Guernsey PCC structure. This new series 2024-1 private cat bond is a renewal of previously ... Read the full article
Record cat bond issuance fuelled growth of broader ILS market: Aon
30th August 2024
Insurance and reinsurance broker Aon has published the 18th edition of its Insurance-Linked Securities (ILS) Annual Report, which highlights a year of exceptional ILS activity, with $17.9 billion in catastrophe bonds issued across 76 transactions. Covering the 12 months ending June 30, 2024, the Aon Securities report notes that record levels ... Read the full article
Growing demand for parametric insurance in 2024: AM Best
20th August 2024
Record cat bond issuance and large spreads indicate a strong demand for reinsurance capacity, leading to continued interest in parametric-triggered reinsurance and insurance-linked securities (ILS) in the first half of 2024, according to AM Best’s latest report. In the first half of 2024, six natural catastrophe bonds with parametric triggers ... Read the full article
Allstate pegs Beryl losses at $226m, total catastrophe losses for July at $587m
15th August 2024
Large US primary insurer Allstate has disclosed total catastrophe losses for the month of July of $587 million, which includes an initial loss estimate of $226 million for Hurricane Beryl. Allstate's catastrophe losses for July include 20 events estimated at $542 million, pre-tax or $428 million, after tax, which suggests some ... Read the full article
ILS market set records in H1’24, remains an attractive relative value option: Swiss Re
14th August 2024
After a record 2023, the insurance-linked securities (ILS) market again set records in the first half of 2024, with strong catastrophe bond issuance on the back of robust demand from investors, as the secondary market experienced record high trading volumes, according to reinsurance giant Swiss Re. The latest ILS Market Insights ... Read the full article
Groupama issues €150 million Quercus Re DAC Cat bond
22nd July 2024
French mutual re/insurance company Groupama has issued a new Cat bond Aggregate to protect its climatic exposures in France, placed and structured by the Aon Securities team. The €150 million Quercus Re DAC Cat bond came into effect on July 19, its coverage has been designed to run across a ... Read the full article
SageSure, Anchor Re, and SURE close $60m catastrophe bond
10th July 2024
SageSure, Anchor Re, and SureChoice Underwriters Reciprocal Exchange (SURE) have announced the closing of the Gateway Re 2024-4 catastrophe bond at $60 million—20% higher than the original $50 million target. This marks the eighth transaction in the Gateway Re series, bringing SageSure-supported risk capital for underwriting partners to $1.2 billion in ... Read the full article
Alternative reinsurance capital hits record $110bn: Aon
5th July 2024
So far in 2024, the insurance-linked securities (ILS) market has seen significant growth, with the volume of alternative capital in the global reinsurance industry increasing to a record high of $110 billion through the second quarter, as reported by insurance and reinsurance broker Aon. Aon’s mid-year 2024 report reveals that each ... Read the full article
A huge $8.4bn of catastrophe bond issuance in Q2 takes market to record size: Report
2nd July 2024
A record $8.4 billion of catastrophe bond and related insurance-linked securities (ILS) issuance occurred in the second quarter of 2024, taking first half issuance to a new high of $12.6 billion, and the outstanding market to a record $48 billion, according to Artemis' latest quarterly market report. Read the full article
Global reinsurer capital up 4% to new high of $695bn, reports Aon
1st July 2024
Analysis by insurance and reinsurance broking group Aon finds that global reinsurer capital increased by 4% during the first quarter of 2024 to a new high of $695 billion, with growth in both traditional and alternative capital. From the end of 2023 to the end of March 2024, global reinsurer capital ... Read the full article
Achmea sponsors €100m cat bond covering European windstorm
21st June 2024
Achmea Reinsurance Company N.V has entered into a four-year reinsurance agreement with Windmill III Re DAC, a multi-arrangement special purpose vehicle incorporated in Ireland, providing per occurrence cover in respect of losses from European windstorms originating from Achmea’s non-life insurance companies Achmea Schadeverzekeringen N.V. and N.V. Hagelunie. Achmea explained that Windmill ... Read the full article
SCOR secures $175m of retro with latest cat bond
31st May 2024
French reinsurer SCOR has successfully sponsored a new catastrophe bond, Atlas Capital DAC Series 2024-1, providing it with a multi-year risk transfer capacity of $175 million against named storms in the US and earthquakes in the US and Canada. Atlas Capital DAC Series 2024-1 is an aggregate, index-based trigger cat bond ... Read the full article
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