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.
MAPFRE RE successfully structures its first cat bond, Recoletos Re DAC
13th December 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has announced it is sponsoring the issuance of a catastrophe bond of USD $125 million, issued through Recoletos Re DAC, an special purpose vehicle (SPV) incorporated in Ireland. This is MAPFRE RE’s first reinsurance protection linked to a cat bond. It is ... Read the full article
Closing the cyber protection gap with cat bonds: Geneva Association
12th December 2024
Financial innovations such as cyber catastrophe bonds could help bridge the cyber protection gap, according to a recent report by the Geneva Association. As businesses and societies become increasingly digital, cyber threats such as ransomware, data breaches, and IT outages have emerged as top concerns. Over the past decade, the cyber ... Read the full article
Talanx issues its first $100m cat bond for earthquake risks in Chile
5th December 2024
Talanx Group, the parent company of Hannover Re, has issued its first ever catastrophe bond, securing multi-year protection against earthquake risks in Chile. The bond, valued at USD 100 million, was issued via Maschpark Re Ltd., a special purpose insurer established in Bermuda, in cooperation with Hannover Re. Dr Jan Wicke, Talanx ... Read the full article
Artemis Live ILS Market Outlook 2025 webinar – Watch the full replay
27th November 2024
Our insurance-linked securities (ILS) focused sister publication, Artemis, has now published the full video of its ILS Market Outlook 2025 live webinar, during which experts from across the industry dissected the state of the catastrophe bond and broader ILS marketplace with a view to next year. The ... Read the full article
Rise in demand for cat bonds driven by climate-risk mitigation: Fitch
13th November 2024
In an effort to effectively manage risk, re/insurers are continuing the use of capital markets to access catastrophe bonds amid a firm market, driving up the issuance of insurance-linked securities (ILS), a trend that is expected to persist, Fitch has highlighted. This, according to analysts, also presents a unique opportunity ... Read the full article
French terror risk pool GAREAT diversifies sources of reinsurance with first catastrophe bond
4th November 2024
GAREAT, the French terrorism risk insurance pool, is sponsoring its first catastrophe bond, Athéna I Reinsurance DAC, to diversify its sources of reinsurance risk capital, as reported by our insurance-linked securities (ILS) focused sister publication, Artemis. Established in 2002 as a public-private partnership market structure, GAREAT, or Gestion de l’Assurance ... Read the full article
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
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