Reinsurance News
insurance-linked securities
Insurance-linked securities (ILS) are a specialist asset class where capital market investors allocate to instruments exposed to insurance and reinsurance risks.
Read our insurance-linked securities news and analysis below.
Catastrophe bond market reaches new heights in Q2 2023: Report
6th July 2023
A huge $7.1 billion of catastrophe bond and related insurance-linked securities (ILS) issuance featured in the second-quarter of 2023, taking first-half issuance to a record of more than $10.3 billion, according to the latest quarterly report from our ILS-focused sister publication, Artemis. Data from the ... Read the full article
Reinsurance support plays a large role in the cyber insurance market: Moody’s
8th June 2023
According to analysts at Moody's, reinsurance support plays a large role in the cyber insurance market, as primary insurers continue to reinsure cyber risk through quota share arrangements to obtain expertise and capital protection. Citing Gallagher Re's 1st View Emerging Equilibrium published in January this year, Moody's notes that reinsurance pricing ... Read the full article
ILS at crossroads as capital supply to remain low: AM Best
23rd March 2023
Analysts at AM Best have warned that the insurance-linked securities (ILS) market finds itself “at a crossroads” following several years of heightened catastrophe losses, and with the supply of capital set to remain low while investors re-assess the class. The rating agency notes that losses stemming from Hurricane Ian, after years ... Read the full article
SCOR’s ILS fund Atropos surpasses $2bn of assets under management
8th February 2023
SCOR Investment Partners has announced that its flagship Insurance-Linked Securities fund Atropos has surpassed $2 billion of assets under management. The firm's ILS platform, led by Sidney Rostan, also manages a second flagship fund alongside Atropos, the SCOR ILS Fund - Atropos Catbond Fund, which invests solely in catastrophe bonds and ... Read the full article
Cyber ILS deals a “stepping stone” to market acceptance: Fitch
3rd February 2023
Analysts at Fitch Ratings have said that the two recent public announcements of cyber risk transference by re/insurers to the capital markets through insurance-linked securities (ILS) issuances represent the potential for a broader reinsurance source for the risk. While development of the cyber risk transfer market requires further maturation of the ... Read the full article
Host of economic headwinds continue to constrain US ILS capital: Gallagher
12th January 2023
Analysts at Gallagher Securities have suggested the combination of Hurricane Ian losses, lacklustre returns results, the strong US dollar, and a large number of issuances since 2020 are leaving USD insurance-linked securities (ILS) capital constrained in terms of liquidity, implicating that risk spreads are widening materially. In addition, ILS capacity continues ... Read the full article
CyberCube model used for first cyber cat bond
11th January 2023
Cyber risk analytics provider CyberCube has confirmed that it acted as a modelling agent for the first private cyber catastrophe bond. CyberCube’s Portfolio Manager was utilized as part of the creation of a $45 million insurance-linked securities (ILS) transaction by Beazley, as previously reported by our sister publication, Artemis. Portfolio Manager ... Read the full article
Cat bond investors secure higher pricing as Q4 issuance hits $1.6bn: Report
5th January 2023
In the final quarter of 2022, catastrophe bond and related insurance-linked securities (ILS) issuance fell when compared with the prior year quarter, but remained robust at $1.6 billion, helping the outstanding market hit a year-end high of $37.9 billion, according to Artemis. Our ILS-focused sister ... Read the full article
Inigo prices its second catastrophe bond of the year
15th December 2022
Inigo has priced its second catastrophe bond of the year, securing the company a further $110 million of capital markets backed reinsurance protection. A statement from the firm said Montoya Re II closed this week and is a $110m transaction covering North American named storms and earthquakes. It responds on an ... Read the full article
Hannover Re to benefit from opportunities in ILS & Asia: Jefferies
14th October 2022
Analysts at Jefferies have asserted that Hannover Re is set to benefit from opportunities in areas of change that it has embraced to a greater extent than many peers, including the hard market environment, ILS markets, Asian growth and even IFRS 17. In terms of innovation, Jefferies notes that Hannover Re ... Read the full article
9M catastrophe bond issuance above-average: Report
5th October 2022
Catastrophe bond and related insurance-linked securities (ILS) issuance was particularly quiet in the third-quarter of 2022, but combined with a solid first-half of the year for the market, helped issuance for the nine-month period come in above-average at more than $8.9 billion, reports Artemis. The Q3 2022 ... Read the full article
Fannie Mae transfers $700m of mortgage credit risk to re/insurers
27th September 2022
Fannie Mae has announced the transfer of $700m of mortgage credit risk to private re/insurers through its Credit Insurance Risk Transfer (CIRT) 2022-9 program, as part of its ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market. Rob Schaefer, Fannie Mae Vice President ... Read the full article
Essent closes $237.9m capital markets mortgage deal
22nd September 2022
Essent Group subsidiary Essent Guaranty has obtained $237.9 million of fully collateralized excess of loss mortgage reinsurance coverage from the capital markets. The reinsurance applies to policies written in October 2021 through July 2022 from Radnor Re 2022-1 Ltd., a newly formed Bermuda special purpose insurer. Radnor Re 2022-1 has ... Read the full article
Fleming hires Samir Khare to lead casualty ILS platform
3rd August 2022
Fleming Insurance Holding has hired Samir Khare to head up its nascent casualty ILS platform buildout as a part of a $150 million capital infusion by Altamont Capital and Fleming Corp. The buildout will include pooling and structuring capabilities to transform casualty insurance risk to the capital markets. Khare most recently worked ... Read the full article
Aeolus launched Florida-focused reinsurance facility at June 1 renewals
12th July 2022
Bermuda domiciled reinsurance and insurance-linked securities (ILS) focused investment fund manager, Aeolus Capital Management Ltd., launched a largely Florida-focused reinsurance facility at the June 1st, 2022, renewals, called Corbel, according to Artemis' sources. Our ILS-focused sister site, Artemis, reported yesterday that Corbel is mostly focused on providing reinsurance capacity to cedents ... Read the full article
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