Swiss Re closes $225mn parametric earthquake cat bond for mortgage defaults
Swiss Re Capital Markets has closed what it describes as the first catastrophe bond issued with a parametric trigger designed to cover mortgage default risk caused by earthquakes, with the $225mn Sierra deal.
Liberty’s $50mn Limestone Re BSX trade part of larger ILS placement
Liberty Mutual’s listing of $50mn of Limestone Re notes on the Bermuda Stock Exchange last week was part of a large placement with ILS partners as the giant carrier continues to use its sidecar structure to offload risk to alternative capital investors.
Hamilton announces lead executive for renamed ILS platform
Hamilton Insurance Group has announced that its insurance-linked securities platform has been renamed Hamilton ILS, with Hanni Ali taking the new role of senior vice president, strategic partnerships.
Peak Re grows Lion Rock sidecar to $77mn
Fosun-owned Peak Re has renewed its sidecar Lion Rock Re II securing $77mn from investors, a slight increase on last year’s pioneering securitisation.
Leadenhall restructures business units as AuM nears $5.7bn
Insurance-linked securities investment manager Leadenhall Capital Partners has restructured its life and alternative credit business into three operating units, as its total assets under management (AuM) edge closer to a new record size, The Insurer understands.
UPDATE: US cat bond yields climb to seven year high
The risk premium on US wind-exposed cat bonds is the highest on record since Q1 2013 after climbing sharply throughout 2019.
Standard Life Aberdeen fund looks set to exit ILS after CatCo losses
A fund within Standard Life Aberdeen’s (SLA) asset management business Aberdeen Standard Investments (ASI) that invested in CatCo looks set to quit the insurance linked securities (ILS) sector as it has not found new opportunities offering a satisfactory risk-return combination.
Kilimanjaro III upsizes to $850mn as ILS investors show cat bond enthusiasm
ILS investors’ renewed enthusiasm for catastrophe bonds was highlighted today when Everest Re’s Kilimanjaro III more than doubled in size from its initial target.
Neal welcomes first Lloyd’s ILS fund via Brit’s Sussex platform
Lloyd’s CEO John Neal has welcomed Brit Ltd’s launch of an ILS fund to support the expansion of its third-party capital Syndicate 2988.
Everest Re cat bond Kilimanjaro expands to $800+mn on strong ILS demand
ILS investors’ renewed enthusiasm for catastrophe bonds will be highlighted today when Everest Re’s Kilimanjaro III more than doubles in size from its initial target.
Global Parametrics and Hannover Re launch impact fund
Parametric and index-based risk transfer firm Global Parametrics (GP) has launched a new natural catastrophe focused investment fund with backing from Hannover Re and the German government.
Growing reinsurance demand helps support pricing momentum: AM Best
Increased demand is one of a number of factors supporting more favourable momentum in reinsurance pricing, said AM Best as it maintained its stable outlook on the non-life sector.
Aon launches $25mn+ private placement catastrophe bond platform
Aon Securities has launched a new private catastrophe bond placement platform for transactions above $25mn in issuance size.
Gallagher’s Artex acquires EWI Re
AJG’s captive and alternative risk transfer subsidiary, Artex Risk Solutions, has purchased Dallas, Texas-based reinsurance broker EWI Re.