Cat Bonds

World Bank issues $150mn parametric cat bond for Jamaica

The World Bank has priced a catastrophe bond that provides $150mn of parametric named storm insurance coverage for the Government of Jamaica.

Zywave panel: Cyber ILS has “mainstream” potential in medium term

Panellists at a Zywave event last week were bullish on the growth potential of cyber ILS, with GC Securities senior vice president Carlo Magnani highlighting the unsustainability of the existing capacity model in light of the cyber market’s underlying trajectory.

Lloyd’s returns have outperformed Swiss Re cat bond index over the last 20 years: ICMR

Lloyd’s has delivered an average return on capital of 9.3 percent since 2004, alongside moderate volatility and low correlation with mainstream asset classes, according to a study by Insurance Capital Markets Research and the Lloyd’s Market Association.

World Bank issues $420mn parametric cat bonds for Mexico

The World Bank has issued three catastrophe bonds that provide $420mn of parametric named storm and earthquake coverage for the Government of Mexico.

SageSure and SURE close second cat bond of year with $130mn placement

Expansive MGU SageSure and its SureChoice Underwriters Reciprocal Exchange have closed a $130mn second and subsequent event catastrophe bond, a deal that brings the Gateway Re franchise to $1.16bn in issued risk capital.

Ludolphs: Parametric cloud outage cat bond can help investors build diversified cyber portfolio

Hannover Re’s issuance of a parametric cat bond was launched to address the reinsurer’s significant accumulation potential to cloud outage risk, but managing director Henning Ludolphs hopes the concept will gain traction across the market in the long term.

Hannover Re launches parametric cat bond for cloud outage accumulation risk

Hannover Re has partnered with cyber MGA Parametrix to launch a first-of-its-kind catastrophe bond that securitises cloud outage risk to provide the reinsurance giant with incremental retrocession protection.

American European and MGA ShoreOne sponsor $125mn cat bond

Northeast US-focused carrier American European Insurance Company and MGA ShoreOne Insurance Managers have sponsored upsized $125mn cat bond Charles River Re 2024-1.

Slide secures upsized $210mn cat bond covering Florida and South Carolina storms

Slide Insurance has finalised pricing for a $210mn Purple Re Ltd (Series 2024-1) catastrophe bond, which the Florida carrier said provides 40 percent more in fully collateralised reinsurance than its initial target of $150mn.

MS&AD subsidiaries issue $200mn Tomoni Re cat bond with shared limit structure

Mitsui Sumitomo Insurance Company and Aioi Nissay Dowa Insurance Co, members of Japanese insurance giant MS&AD, have jointly issued the Tomoni Re catastrophe bonds, based in Singapore and covering domestic natural disaster risks in Japan.

Could negative credit spreads and a rising cat bond appetite accelerate the end of the reinsurance hard market?

As the record-breaking pace of cat bond issuance continues, could falling high quality US corporate bond yields make the ILS asset class even more attractive to investors?

SageSure and SURE upsize cat bond by 67% to $250mn

Expansive MGU SageSure and its SureChoice Underwriters Reciprocal Exchange (SURE) have closed their latest cat bond at $250mn, with the Gateway Re 2024-1 issuance upsized by 67 percent from the midpoint of its initial $100mn-$200mn target range.

Tokio Marine sponsors $100mn Kizuna Re cat bond using sustainable development bond

A Tokio Marine Holdings subsidiary has become the first Japanese insurer to use the World Development Bank’s sustainable development bonds in its latest sponsor of the issuance of Kizuna Re III.

AM Best: Cat bond market poised for high volume again in 2024 after record-breaking year

Catastrophe bond issuance is set to remain high in 2024 after hitting new highs last year as $11bn of outstanding principal is due to mature, while ILS capital supply grew $4bn in 2023 to hit $100bn at year-end, according to a new AM Best report.

Hamilton sponsors $200mn Easton Re cat bond

Hamilton Insurance Group has sponsored its second Easton Re catastrophe bond, which will provide risk transfer capacity of $200mn to protect against US named storm and North American earthquake risk.

Fema adds $575mn cat bond to NFIP risk transfer program

The US Federal Emergency Management Agency has expanded its reinsurance protection for the National Flood Insurance Program to $1.92bn ahead of the 2024 hurricane season with a $575mn cat bond.

Hong Kong commits to ILS build-out in latest budget

Hong Kong is stepping up efforts to establish itself as a leading centre for captives and ILS in Asia, as part of its wider goal to become a go-to jurisdiction for international risk management services.

CyberCube: Diversification within cyber ILS possible despite systemic nature

An analysis by CyberCube of all the 144A cyber catastrophe bonds issued to date has concluded that diversification within cyber as an asset class is possible despite systemic events not accumulating across easily visualised fault lines.

ILS market grows to record $43.1bn in 2023: Swiss Re

Outstanding global ILS issuance grew by 20 percent year on year to $43.1bn in 2023, driven by a large volume of maturing bonds and newly allocated capital entering the market, according to Swiss Re.

Fidelis secures $150mn cat bond cover through fifth Herbie Re issuance

Fidelis Insurance Holdings Limited has closed a new catastrophe bond providing $150mn of collateralised reinsurance protection against named storms and earthquakes.

Region

Topics

Events & Conferences

Content Types