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 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 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.
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.
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.
The risk premium on US wind-exposed cat bonds is the highest on record since Q1 2013 after climbing sharply throughout 2019.
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.
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.
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.
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.
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.
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 Securities has launched a new private catastrophe bond placement platform for transactions above $25mn in issuance size.