Securis – Lloyd's

Securis wins arbitration ruling over Synd 4242 dispute


Beat Syndicate 4242 is facing further loss deterioration on its 2017 year of account after an arbitration panel ruled on the side of ILS fund Securis in its $20mn reinsurance dispute with the Lloyd’s insurer relating to Irma loss creep.

Beat Capital – Loyd's

Beat confirms Syndicate 4242 stays open with ongoing ILS dispute; closes SPS


Beat Capital Syndicate 4242 posted another heavy loss last year while confirming that it will keep its 2017 year open because of an ongoing reinsurance dispute.

Willis Re logo

Non-life ILS issuance recovering in Q1 after 2019 drop-off


The non-life ILS market is showing signs of recovering with issuance and deal numbers in the first quarter nearly matching the levels reached in all of 2019, according to Willis Re.

Twelve Capital

Cat bond pricing to continue hardening as traditional supply tightens


Primary cat bond issuance spreads are set to continue widening through 2020 as volatility endures in financial markets and traditional reinsurance and retro capital tightens, according to ILS fund manager Twelve Capital.

Sean Bourgeois – Tremor

Tremor launches weekly ILW auctions to sidestep Covid-19 challenges


Risk transfer marketplace Tremor has invited buyers and sellers of ILW (industry loss warranty) contracts to participate in a weekly auction on its trading platform, in a move the insurtech says reflects “the importance of keeping (re)insurance trades flowing” in the midst of the coronavirus-induced lockdowns.

Corona virus

ILS open for business despite Covid-19 and financial freefall: GC


The insurance linked securities (ILS) market remains open for business despite the impact of the Covid-19 virus and the freefall within the financial markets, according to Guy Carpenter.

World Bank – Coronavirus

World Bank’s $320mn cat bond nears payout as triggers met


The pandemic catastrophe bond taken out by the World Bank is edging closer to paying out a portion of its $320mn limit as Covid-19 exceeds the 12 week time frame required to trigger the policy.

Scor – Dublin

Scor returns to Ireland for $200m+ Atlas Capital cat bond


Scor will return to Ireland to domicile its $200mn+ Atlas Capital 2020-21 cat bond, having recently used the relatively new UK ILS regime to securitise retrocessional cat protection.

John Forney – UPC Insurance

Florida’s United pulls $130mn Armor Re cat bond issue


United Insurance Holdings (UPC Insurance) has pulled its $130mn Armor Re II 2020-1 series cat bond after marketing the proposed issuance with investors, The Insurer understands.

American Integrity

$150mn Florida cat bond Integrity Re II closes; pricing imminent


Despite the sudden withdrawal of the Florida-focussed cat bond Armor Re II during the marketing stages earlier this month, the sunshine state homeowners specialist American Integrity has renewed its ILS – Integrity Re II – with upsized coverage of $150mn.

Multistrat Group and Canopius

Canopius acquires Bermuda ILS firm MultiStrat Holdings


Top five Lloyd’s insurer Canopius has acquired a majority stake in Bermuda-headquartered casualty reinsurance group MultiStrat Holdings Ltd.

ILS markets

Treefrog and FPT team up on Foundation ILS placing platform


Bermuda-based software developer Treefrog Consulting and Foundation Platform Technologies (FPT) have teamed up to launch an ILS and reinsurance deal pricing and roll-up platform, called Foundation, with ILS manager Tangency Capital signing up as a user.


Climate change “a great opportunity” for ILS market


Climate change presents “a great opportunity” for the insurance linked securities (ILS) market to meet the risk management needs of the (re)insurance industry, according to Neuberger Berman’s Peter DiFiore.

World Bank – Coronavirus

World Bank pandemic cat bond poised to be triggered; secondary market trading down


A portion of limit on the World Bank’s $320mn pandemic catastrophe bond is on the brink of paying out as the spread of coronavirus across the globe edges closer to meeting the predefined trigger criteria.


Retro buyers change structures in response to shifting market


Retro programmes are set to see further change throughout the rest of the year as reinsurers continue to get to grips with the shifting availability of capacity and appetite from their counterparties.


U-shaped market to end as “retro tail” wags “reinsurance dog”


Some point soon “the retro tail should start wagging the reinsurance dog” so that pricing in the sector catches up with the hardening taking place in the primary and retrocession markets, according to TransRe’s Craig Hupper.

World Bank

​World Bank to launch Asia infrastructure cat bond in spring: report


The World Bank, supported by the governments of Japan and Singapore, is set to launch an insurance scheme to protect public Asian infrastructure against natural disaster risks, with the first participating countries to be covered as early as this spring.

Weston Hicks – Alleghany

Alleghany’s Hicks questions pension funds’ ILS rationale


Alleghany’s president and CEO Weston Hicks has questioned the thinking behind pension funds investing in the property catastrophe space because of its inherent volatility.

Bermuda 0311

ILS executive Scherer to leave Aon Bermuda


Aon’s Bermuda-based insurance linked securities (ILS) expert Chuck Scherer is leaving the company and heading back to the US, The Insurer has learned.