-
Operating revenues were also up on the $29.1mn reported over Q2. -
O’Donnell believes RenRe is well positioned to produce longer-tail risk to third-party investors.
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Third-party investors made a net income of $415mn in the quarter.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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Central pressure of 900mb or below would trigger a full loss of the $150mn deal.
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The legacy cover will backstop policies written by its North American insurance business.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
-
Pricing on Friday implied a potential $45mn loss to the bond, before the storm outlook deteriorated.
-
So far this year, there have been 11 first-time sponsors to place a deal.
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Competition on price from traditional markets is weighing on bond market momentum.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The insurer of last resort’s exposure was $696bn as of last September.
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The bond will provide protection against US wind with a PCS trigger.
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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle.
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The cedant’s current deal is due to mature at the end of January 2026.
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The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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Spreads on USAA’s latest deal priced below comparative issuances in 2023-2024.
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Investor interest is warming up following a colder spell over the past several years.
-
EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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The executive is charged with defrauding investors out of nearly $500mn.
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While rates have “definitely come down,” they were coming off a high base, Rachel Turk said.
-
Nine-month insured losses still exceeded $100bn due to California wildfires.
-
The award of the mandates marks the California public pension plan’s entry into ILS.
-
The reinsurer stressed it “did not shy” from cat business in 2023.
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ILS has been a driver of innovation in reinsurance, Convergence 2025 attendees heard Wednesday.
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Mory Katz joined the broker earlier this year.
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The carrier will continue to write assumed retro in Bermuda.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The funds will combine credit and ILS holdings.
-
Ryan Saul will work at Ledger’s broker-dealer subsidiary Ledger Capital Markets.
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The hire is the hedge fund manager’s third ILS appointment in the past year.
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Key topics include private ILS growth prospects and the longevity of longtail interest.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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Newsom has yet to sign a pending bill to create a public cat model.
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Returns from cat risk investments stood at 20.1% for the year to 30 June 2025.
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A cat-focused vehicle is “the missing piece” of Hannover Re’s ILS offerings, said Silke Sehm.
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The allocation is around 3% of the fund’s total assets.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
-
Toh joins from Nephila, where he spent the last decade, bringing expertise in ILS.
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The alternative asset manager was founded in 2021 with offices in London, New York and Abu Dhabi.
-
Founder and CEO of Nascent Andre Perez will join Sephira’s board of directors.
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It is understood around $1bn of premiums could be ceded to the proposed vehicle.
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Sources have said $1bn+ of fresh capital from the region is expected to be deployed in 2026.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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Improved performance and growing investment returns played a role in the upgrade.
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The business has been ~70% owned by White Mountains since January 2024.
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The executive has worked at Aon for almost two decades.
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The figure comprises 5.48% of insurance discount margin and 3.96% of risk-free rate.
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The facility will initially focus on US, Bermudian and European business.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Pricing has hit historically soft market lows, based on secondary market pricing.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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Bellal Rahman joins from Catalina Life Re, where he was head of finance for two years.
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The manager’s largest ILS holding is in the cat-bond-heavy High Yield fund.
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Cat bonds have outpaced the returns on private strategies in the year to date.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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The new Verisk SCS model is increasing expected losses on aggregate bonds.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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The tropical cyclone is expected to be named Imelda.
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In the new role, Edward Johnson will be rejoining former Aon Securities colleague Chris Parry.
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The Bermuda firm said HS Sawmill reflected its continued focus on life insurance.
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The ILS services specialist has worked in the ILS market in Bermuda for 10 years.
-
Charles Mixon joined the firm a year ago in a business development role.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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The resource was developed by leading ILS managers and investors.
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Deals would need to be sized at $50mn plus for transfer to capital markets.
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The economic loss from the event was around EUR7.6bn.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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Samild held multiple roles including head of alternatives at the Future Fund.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The sidecar will support five programs providing specialty frequency coverages.
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Axa IM’s acquisition by BNP Paribas was confirmed in July this year.
-
Vantage Group Holdings received a BBB- long-term issuer credit rating.
-
Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
-
ILS executives talked pricing, capacity and opportunities in casualty at an ILS roundtable in Monte Carlo.
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The market has learned lessons from earlier soft market phases that it will apply now.
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Losses were primarily driven by personal property lines.
-
The tech firm is building a joint stock company with insurers and investors.
-
Nick Fallon is the latest in a string of retro-broker moves in the market.
-
Victory Pioneer Cat Bond Fund also added assets in the past month.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
-
Arch set up Bermuda investment manager Arch Fund Management in February.
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The syndicate is targeting capital allocation for 1 January, the company confirmed.
-
Terms are expected to hold, underpinning the stronger recent performance of reinsurers.
-
Sources said that the carrier has held preliminary talks with private debt investors.
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Scott Cobon's most recent title was MD, insurance management services.
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The figure comprises 6.07% of insurance discount margin and 4.15% of risk-free rate.
-
He added that Munich Re does not rely on retro or third-party.
-
The leadership’s commentary spotlighted to value of ILS to the group.
-
The sponsor extended two notes issued in 2022.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The volume of property cat aggregates placed grew 50% in 2025.
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The vehicle will be capitalised by an asset manager with more than $100bn in AuM.
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The target allocation to Munich Re, Elementum and the run-off AlphaCat funds fell in the year to 30 June 2025.
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Bohm has held senior roles at BMS, Swiss Re and Aon during his career.
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The trend for private credit in alternative asset management is “set to continue”.
-
The capital supported sidecar-style syndicates and reinsurance start-ups.
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Syndicate 1440 was approved to assume business incepting January 2026.
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The investment bank had stopped offering ILS services last September.
-
The data modeling firm said losses previously averaged $132bn annually.
-
The ratings agency warned negative PYD on US casualty will likely continue.
-
The agency noted inflows to cat bond funds and investor interest in private ILS.
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Competition from cat bonds in the top layers of programmes applied downward pressure on reinsurance pricing in 2025.
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Dedicated reinsurance capital is on track to increase by 8% in 2025, the broker said.
-
The Japanese carrier faces integration challenges to make a success of the deal.
-
Funds encompassing private ILS outperformed cat bond strategies in July.
-
The global specialty player is also exploring ILS offerings across specialty and cat bonds.
-
The violations included not using propertly appointed adjusters and failing to pay claims.
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Market participants have until 13 October to provide any comments.
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A trend towards higher-risk ILW bonds helped keep yields in double-digits despite softer rates.
-
After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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Aspen Capital Markets earned $169mn in fee income in 2024 alone.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
-
The CUO has added the role of head of private ILS, joining the executive team.
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The purchase brings Sompo an established ILS platform as part of the deal.
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Last year marked the second consecutive year in which carriers made a positive return.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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Hagood will stay on as sole CEO of Nephila Holdings, with Taylor continuing as president.
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The group claims the White House is undermining disaster preparedness.
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Benjamin Baltesar spent more than six years at Euler ILS.
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The reinsurer’s capacity is hugely important to ILS firms, with few alternative providers.
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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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This is the latest in a string of appointments made by the firm’s ILS unit.
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The Bermudian firm has an active ILS division, unlike the Japanese conglomerate’s insurance divisions.
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ILS accounted for 2.5% of the pension fund’s total AuM.
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Aaron Garcia will hold a senior role at the operation, sources have confirmed.
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Reinsurers are confident on cat rates and ready to deploy ILS capital.
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The vehicle will support Platinum Specialty Underwriters, XPT Group’s MGA underwriting unit.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The P&C division booked a combined ratio of 81.1% for the first half of 2025.
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The firm’s ILS vehicles posted low single-digit growth in assets under management in Q2.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
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The company plans to launch in New York and New Jersey next year.
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American Integrity grew GWP by 30% to $287mn and Slide GWP was up 25% to $435mn in Q2.
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The estimate covers property and vehicle claims.
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The ILS manager revised down slightly its forecast for the syndicate’s 2023 YOA.
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The reinsurer plans to repeat its 2025 purchasing for property and specialty protections.
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The firm booked net losses from the LA wildfires of EUR615.1mn in the first half.
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ILS investors have fought shy of multi-peril aggs due to low confidence in SCS modelling.
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Both organisations still predict an above-average hurricane season.
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The Florida carrier said ceded premiums will rise slightly to $106mn in Q3.
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The reinsurer’s chair said cat pricing reductions are at a “miniscule level”.
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Aspen’s gross premium cession ratio grew 7.1 percentage points to 42.2%.
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The sidecar took $19mn of cat losses relating to the California wildfires.
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The transaction is expected to close later this year.
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The yield figure comprises 6.53% of insurance discount margin and 4.28% risk-free.
-
The forecast has increased since the early July update due to several additional factors.
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The Texas insurer of last resort previously had to have funding for a 1-in-100 year storm.
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Around 95% of the Hiscox Re & ILS portfolio is rated rate “adequate” or better.
-
The carrier posted its H1 results earlier today, beating analyst consensus.
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The unit said capital in the ILS market remains more than adequate to meet rising demand.
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California wildfires account for $40bn of the insured loss tally in H1.
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The company also purchased $15mn of SCS parametric coverage.
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In Q2 last year, Everest ceded $26mn in losses to Mt Logan.
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The new team will be headed by Brown & Brown’s Ed Byrns.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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Investors are drawing lessons from life deals to find new routes into insurance markets.
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The ILS Advisers Fund Index reported a profit of 1.11% in June.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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Scor's CEO said the P&C market had experienced a “competitive” first half.
-
Markel announced the sale of its global reinsurance renewal rights to Nationwide.
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Nationwide will delegate management of the policies to Ryan Specialty.
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The broker has noted that double-digit reductions are increasingly available in property.
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Amid $17bn of new deals, cat bond activity included aggregate and cascading structures.
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The firm attributed a 9% drop in reinsurance NWP partly to higher cession rates.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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This brings the carrier’s total limit on the program to $1.8bn.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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The Bermuda SPI will write a quota share of SageSure’s captive Anchor Re.
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Matthew Flynn joins from RenaissanceRe.
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The bond will provide protection on an industry-loss basis, as reported by PCS.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The merged business of Twelve Securis ranked third among ILS managers for AuM, behind Fermat and RenRe.
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The figure updates an April estimate of EUR696mn.
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At least 14 new companies have opened up shop in the state in recent years.
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Cat bond broking growth contributed to 6% organic growth in reinsurance.
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Brian Hickey joins the firm from PE specialist AE Industrial Partners.
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Reserve releases helped to recapture deferred fees.
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The consultation period around UK ISPVs was opened in November last year.
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George Cantlay will also assume the additional position of president of the Bermuda business.
-
The reinsurer returned $216.7mn to investors in Q2.
-
The proposed reforms are designed to put the UK’s regulatory framework on par with Bermuda and the US.
-
CFO Christoph Jurecka will succeed as management board chair.
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He replaces Andrew Hughes, who held the role since 2021.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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The carrier reported preliminary profits of EUR2.1bn, driven by “very low” major-loss expenditure in P&C re.
-
Canio spent over 19 years with PGGM, with nine of those managing ILS.
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The firm reported a net pre-tax cat loss of $414mn from January’s LA wildfires.
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Managers believed end-investors value diversification and non-correlation of cat bonds over liquidity.
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Cat bonds remain attractive for investors seeking risk-adjusted return and diversification.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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Matthew Towsey has spent 14 years at Aon.
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The suit claims billions of dollars are being illegally withheld.
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The US accounted for 92% of all global insured losses for the period.
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US events accounted for more than 90% of global insured losses.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
-
State legislation has led to major strides in rate adequacy.
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We discuss progress in collateral management with our Outstanding Contributor winner.
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Category 4 and 5 storms could become more common and hit further north.
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Former ILS lead Matt Holland left the company in May.
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He had spent 10 years at Securis, with seven of them as COO.
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In the US, the index fell 6.7% year on year.
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Despite predicting fewer hurricanes, the numbers are still above average.
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His last role was ILW practice leader at Acrisure Re.
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The weather-modelling agency is predicting a below-normal season.
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The fund was renamed from the Pioneer Cat Bond Fund.
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The total yield was 11.03% as of 27 June, including 4.3% of risk-free rate.
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Some $400mn of bonds priced in the past week, after a record-setting H1.
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The recommended “AIF lite” structure could be suited to cat bond lites.
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The Diversified Alternative Fund’s allocation to cat bonds was up by 31% from $386mn at 31 January.
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The Bermudian ILS manager has recently changed its name from Mereo Advisors.
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The fund’s ILS portfolio is split between 70% property cat and 30% cyber risk.
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This comes in at the lower end of the initial spread guidance of 725-775 bps.
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The investment consultancy said yields increased in Q2 by less than could have been expected.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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The Cayman Islands-domiciled SPI now has four institutional backers.
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Property cat-focused sidecar capital was up by approximately 10% in H1.
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Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The sidecars will provide capacity for reinsurers and large insurance carriers.
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Initial responses to ESMA’s report welcomed the long timeframes for any changes.
-
The third-party capital manager is a new entrant to the retro space.
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Weighted average multiples were down as sponsors capitalised on demand to push spreads lower.
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The measure could have landed insurers with extra tax on US business.
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The total return for the Swiss Re Global Cat Bond Index stood at 0.61% for the month.
-
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A group of Bermuda staff also left the broker.
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The body said cat bonds are closer to an insurance product than a security.
-
Michael Hamer recognised for his work with investors and on reporting frameworks.
-
The awards celebration took place at the Hilton Bankside on 25 June.
-
The new unit – Ceded Re – will operate under the leadership of Guy Van Hecke.
-
Twelve Securis is now a challenger for the top spot on the Insurance Insider ILS leaderboard.
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The bond is split across a Series 1 and Series 2 structure, with eight notes in total.
-
The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
-
Everest Re increased the targeted size of Kilimanjaro Re across all four classes of notes.
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The pensions scheme’s existing ILS holdings to Aeolus and HSCM are in run-off.
-
M&A and shifts in distribution arrangements bring risks and opportunities.
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The fund lists Twelve, Swiss Re and Cambridge Associates as managers.
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Slide is putting faith in tort reforms and will lean into Florida, CEO Lucas said.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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Pricing on all classes of notes are being offered at the bottom of the guided range.
-
AuM in GAIA Cat Bond Fund had grown to $3.9bn as of 31 May.
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PCS's loss estimate for the March Missouri SCS pushed the bond beyond its exhaustion point.
-
The California Earthquake Authority upsized its Ursa Re deal by 60% to $400mn.
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Buyers have turned to retro markets for covers where ILW pricing is less attractive.
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The Californian insurer had a private deal, Randolph Re, that provided pure wildfire protection.
-
Rachel Bardon will also join the board of Compre's Bermuda-based reinsurer Pallas Re.
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Harry White has been with Verisk for 14 years, while Ted Gregory has been with PCS for 12.
-
John Kulik will work within Ledger’s broking team, Ledger Investing.
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In April, the loss modeller pegged losses at A$2.57bn.
-
The documents figure in a potential criminal case against a CCB employee.
-
The Bermuda-based team is led by John Fletcher.
-
The firm said it was the first time a UCITS cat bond fund passed the $4.0bn mark.
-
In 2024, MGA GWP reached approximately $20bn in Europe.
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Investors eyeing private ILS include opportunistic allocators keeping watch on storm season.
-
Everest Re has structured its deal into two sections targeting aggregate and per occurrence cover.
-
The sidecar renewed at $230mn for 2025.
-
The pension plan noted in June 2024 that it was exploring new options in ILS.
-
The man is alleged to have conspired with others to falsify LOCs and collateral letters.
-
The loss has decreased by 0.3% since the company’s third assessment.
-
The number has expanded by around 40% from an earlier update, sources said.
-
The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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The executive has 15 years of experience in meteorology and cat analytics.
-
The investment is a response to shifts in stock-bond correlations.
-
The fund was set up 18 months ago by cat bond investor Florian Steiger.
-
William Soares moves from casualty and specialty CUO to president.
-
Total yield was 10.93% as of 30 May, including 4.34% of risk-free rate.
-
She was previously head of investor relations and business development for North America and Australia at Securis.
-
HCI secured three towers with $3.5bn in XoL coverage.
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This followed a $650mn fall in April, after management change of the fund.
-
David Baldwin joins from EIRS where he was a senior reinsurance consultant.
-
Lyon joins the reinsurance broker from law firm Skadden, Arps, Slate, Meagher & Flom.
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A total $225mn of fresh limit entered the market across two deals.
-
Weston Tompkins spent 10 years in an investor relations role at Securis.
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ILS offers efficient capital for underwriters, but casualty ILS transactions are complex.
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The bond will provide protection for storms, quakes and fires in seven US states.
-
The bond protects against losses in the US, Canada, Europe and Australia.
-
The $2.59bn renewal is up 45% from last year.
-
Up to nine million acres of US land are considered likely to burn.
-
Last week, TSR updated its forecast and is now predicting above-average storm activity.
-
The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
-
Most of the losses are attributable to a supercell storm in Texas.
-
The company also has $100mn for US hurricane events.
-
The Floridian also secured $352mn of multi-year coverage extending to 2027.
-
Property cat XoL rates were off by around 10% on average on a blended risk-adjusted basis.
-
The index provider revised up its return for March by 0.39 percentage points to 1.21%.
-
Bredahl has been appointed CEO and Bonneau as chairman.
-
The Swiss pension fund has not disclosed an ILS allocation before.
-
The Peak Re subsidiary mainly writes US motor and casualty reinsurance.
-
The deal leaves premier surety as Travelers' sole Canadian portfolio.
-
Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
-
The carrier previously raised a Finca Re cat bond in 2022.
-
The company is a wholly owned subsidiary of AmTrust Financial.
-
The carrier previously redeemed from a Herbie Re cat bond for California wildfire claims.
-
The pension plan has been allocating to ILS since 2005.
-
The firm is pressing ahead with IPO plans just ahead of the start of the Atlantic storm season.
-
The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
-
The ILS market has won market share at the top of programmes as buying expands.
-
Almost 50,000 people have been forced to evacuate.
-
TSR previously predicted activity slightly below the 1995-2024 average.
-
SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said.
-
The bond will provide protection for Allstate’s Florida subsidiary, Castle Key.
-
The Italian sponsor has $237mn of limit maturing this July.
-
The agency forecasts up to five major hurricanes and 19 named storms.
-
The cat bond limit total is an uplift of around 60% on the carrier’s 2024 bonds.
-
Some assets in the Medici Fund were transferred to a new UCITS strategy.
-
Fox highlighted the increasing role of alternative capital and creative financial vehicles.
-
The group reported an 89.7% combined ratio for the quarter.
-
Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
-
The bond will provide named storm and quake coverage in the US.
-
The bond is offering a spread range of 850-925bps.
-
As with 2024, pricing pressure has been most acute on top layers.
-
The ILS manager’s total AuM increased to $2.2bn in 2024 from $1.7bn the year prior.
-
Tornadoes have killed at least 32 people in three states.
-
The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
-
The Altamont-backed broker has been building out its team since launching in 2023.
-
One dollar-denominated deal has opted to hold collateral in EBRC notes.
-
The bond will cover named storms in five US states.
-
Berkshire Hathaway lost market share but remained the largest traditional reinsurer, our study shows.
-
Price guidance for the bond is 4.00%-4.50%.
-
The platform’s aim is to support the ILS industry in ‘getting the marks right’.
-
The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
-
The fund was set up in 2015 to capitalise on higher post-event yields.
-
Debut sponsor SV SparkassenVersicherung also secured its target size of $100mn.
-
The revision is significantly lower than the $4.5bn October estimate.
-
The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
-
The headcount at the start-up now stands at around 40.
-
Fales will focus on creating investment opportunities for the carrier’s specialty reinsurance portfolios.
-
Wildfire losses from fronting and ILS activities were EUR438mn.
-
The platform is based in Bermuda and will focus on strategic capital partnerships.
-
Some $200mn of fresh limit entered the ILS market as $3.4bn of deals priced.
-
Sources believe the market will grow gradually over years after its initial cluster of dealmaking.
-
Tropical Cyclone Alfred and Queensland flooding brought thousands of claims.
-
The bond provides coverage on personal-lines property in Florida.
-
The series one notes will provide protection to the benefit of Twia.
-
Former Aviva and AIA CEO Mark Wilson will lead the new initiative.
-
With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
-
The total cost for the program increased 1.8% from last year’s.
-
The carrier’s estimated first event limit could increase 16%, to $1.35bn.
-
The (re)insurer used alternative capital in the reinsurance coverage.
-
The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
-
California homeowners are also expected to move admitted business to E&S.
-
Ark's combined ratio included 25 points of catastrophe losses in Q1.
-
The total yield, inclusive of the risk-free rate, was down on the same period last year.
-
The bond will provide multi-peril coverage on an industry loss basis.
-
Gallagher Re said rates had softened in 2025 versus the prior two years.
-
CEO Thierry Léger expects overall P&C pricing to be “stable” through 2025.
-
The insurer has not decided whether to sell its Eaton subrogation rights.
-
The bond will provide storm protection in Florida and South Carolina.
-
Fermat and GAM announced that the former will take sole control of the GAM FCM Cat Bond Fund.
-
Investors want transparency from managers regarding the impacts of climate change.
-
The deal will provide named Florida storm protection on an indemnity, per occurrence basis.
-
Florida Citizens upsized its latest Everglades Re deal by 50%.
-
The buzz in the air at ILS Connect told of a market entering its next growth phase.
-
AIG, HDI Global and others have settled, while Chubb’s fight continues.
-
Commutations need to be optimal for the sponsor and the investor to avoid sponsors taking back chunky risks.
-
The CEO said private ILS funds can generate additional returns of 10%-20%.
-
The state insurer of last resort is set to purchase $2.89bn of reinsurance this year.
-
Richard Pennay also addressed the dip in cyber ILS activity.
-
The renewal and upsizing of the Trouvaille E&S sidecar highlighted the market’s potential.
-
Private ILS would benefit from extension spreads to manage investor concerns, the CEO argued.
-
The bond will offer retrocession coverage for Hannover Re.
-
The catastrophe bond comes after the issuance of a Mayflower Re bond last year.
-
Its 2025 programme exhausts at $9.5bn excess $1bn.
-
The unit’s premium reduced by 4% for the first quarter.
-
The ILS manager also swung to an operating profit after posting a loss in Q1 2024.
-
There’s not much supply in that marketplace, Papadopoulo said.
-
All 29 funds tracked by the index returned a positive performance.
-
The initial offering will include 6,875,000 shares of common stock.
-
The bond will provide protection against named storm and thunderstorm.
-
The carrier is offering shares priced at $29-$31.
-
Growing economic and population exposures are driving potentially larger insured losses.
-
The casualty ILS business now has $175mn in capital.
-
Cat bond sponsors continue to secure higher limits and lower rates versus their targets.
-
Investor interest and capital flows point to potential for ILS proliferation.
-
The bond initially sought $425mn across three tranches.
-
Six weeks after the storm, Perils released its first industry-loss estimate at EUR619mn.
-
Renewal rates were favorable compared to what could have happened after several hurricanes.
-
His leadership roles included overseeing the firm’s capital solutions group.
-
The bond will cover China, India and Japan quake and Japan typhoon.
-
The bond will provide protection against German and Japan quake.
-
The firm’s assets under management were down $300mn in Q1 as performance fee income was hit.
-
Secondary market traders are baking in further loss potential after PCS increased its wildfire and Helene loss estimates.
-
This year’s ceremony will include the inaugural Women in ILS Award presentation.
-
January’s California wildfires meant third-party investors suffered a loss of $195.3mn.
-
The carrier increased its cession by around 13% year over year.
-
The carrier announced a major writedown in its L&H book last year.
-
The storm made landfall in Queensland, Australia at the beginning of March.
-
SCS losses were also above average in Q1 due to “lingering” La Niña conditions.
-
Franklin Templeton’s allocations to ILS are managed by fund of funds manager K2 Advisors.
-
An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
-
The carrier surpassed the retention on its annual aggregate reinsurance cover for the year to March 31.
-
Insured losses were the second highest on record for the first quarter.
-
Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
-
Sykes has spent over 31 years with Aon, with the last 15 of those in Guernsey.
-
The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
-
The program will provide excess casualty coverage across a broad range of industries.
-
He joined what was then Credit Suisse ILS in 2019, moving from Hiscox Re & ILS.
-
The executive formerly served in senior leadership roles at Nomura, Credit Suisse and Goldman Sachs.
-
The broker has also hired fellow Aon broker Barry Gordon in a role trading ILWs.
-
The Floridian company applied to be traded on the NYSE.
-
This is the first time the Texas Fair Plan has entered the cat bond market.
-
Fellow Swedish pension fund AP3 is phasing out its ILS allocation after being active in the sector since 2008.
-
The deal of the size was unchanged at $100mn.
-
He joined Nephila in 2023 from Lancashire as a senior underwriter.
-
Portfolio rebalancing was not triggered last week, but investors are now distracted and nervous.
-
US Coastal Property and Utica Mutual Insurance have brought out their first cat bond deals.
-
Gokul Sudarsana has been with the company since 2020, having joined from Deloitte.
-
The Swiss rail pension scheme has been cutting its ILS allocation since 2018.
-
The Swiss pension fund’s ILS allocation stood at 4.9% of the total fund as of 25 March.
-
Suzanne Wells is also joining the company from Arch as COO.
-
The bond will provide protection against China, India and Japan quake, and Japan typhoon.
-
The subject business covers a portfolio of residential insurance.
-
The announcement spurred a quick spike in stock market valuations.
-
KCC is part of the CDI’s review into creating a public wildfire cat model for insurers.
-
The sponsor is estimating a loss of ~$300mn in relation to one of last month’s US tornado events.
-
Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
-
Sutton National and Bamboo Ide8 secured $170mn of sidecar and cat bond protection.
-
The bond will provide coverage against named storm or severe thunderstorm over three years.
-
Torrey Pines Re is split among three tranches of notes.
-
The issuance is split across three tranches with varying degrees of risk.
-
The prediction comes after a highly active hurricane season in 2024.
-
The deal is split across four tranches, with the riskiest note Class D targeting $150mn.
-
Market participants expect pricing will be flat to down through Q2.
-
The bond will provide protection against Louisiana named storm.
-
Fees on the GAM Star cat bond funds will drop in May in a recognition of fee competition in the market.
-
The asset manager has hired Rom Aviv as head of ILS.
-
Markets have taken a battering across the globe following the “Liberation Day” announcement.
-
The reinsurer said the probe concerns the alleged involvement of its former chairman.
-
Colorado State University is predicting 17 named storms, nine hurricanes and four major hurricanes.
-
Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.
-
The sponsor secured $240mn of limit as the bond upsized by 20% on its initial target.
-
Insurance share prices were more resilient than the US stock market.
-
The insurance discount margin is now at a similar level to where it was in the final week of March 2022.
-
Most of the ILS investments were made via the cat bond heavy High Yield Fund.
-
Martin Bisping has moved to CRO and Bernard Bachmann was named CEO of SRILIM.
-
Rachel Barnes Binnie joins as portfolio manager.
-
Palm Re will provide Florida named storm cat bond coverage for Florida Peninsula, Edison and Ovation Home Insurance Exchange.
-
Multiples in March were below historic averages from 2001 through 2024.
-
The cat bond market surpassed $50bn by the end of Q1 2025.
-
The reinsurance broker said total reinsurance market capacity was up 5.3% year over year.
-
Since leaving Hiscox Krefta has founded a consultancy.
-
The ETF will invest solely in natural catastrophe-exposed bonds.
-
LA wildfire-exposed ILS positions experienced further declines.
-
Scor is targeting limit of $200mn with its latest Atlas DAC retro cat bond.
-
The carrier has received 12,300 claims as of 28 March.
-
Many UK pension funds are over-funded and lack appetite for higher-risk, higher-yield products.
-
The event has caused widespread damage in Bangkok, Thailand.
-
Recent transactions on the platform include cat bonds from Flood Re and Brit.
-
The vehicle will take a quota share of all of the risks underwritten by Ryan Specialty’s MGA arm.
-
The notes replace a 2021 issuance that matured in January this year.
-
The deal is 45% larger than 2024’s issuance after attracting a “greater number of investors”.
-
The insurer has lined up Piper Sandler and KBW to run the process.
-
Cat losses last month were lighter than historical trends, but all eyes are on Q1 figures.
-
The cedant’s Namaka Re bond is offering a spread range of 200-250 bps.
-
The acquisition expands its global employee benefits business to ~4,000 global employees.
-
The bond provides coverage for North American storms and earthquakes, as well as European windstorms.
-
The pricing is at the top end of the initial guidance range of 550-600bps.
-
The bond is being issued through Lloyd’s London Bridge 2 platform.
-
The bond will provide coverage for Japan typhoon and flood on an indemnity, per-occurrence basis.
-
Caution about capital markets volatility is leading sponsors to stagger bond renewals.
-
The ILS segment is not ready to gloss over loss-heavy years in renewal discussions.
-
The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
-
The agency said introduction of a new methodology will depend on the feedback it receives from the ILS market.
-
Lara Martiner joined Allianz in 2011 as group legal compliance officer and legal counsel.
-
The March 13-16 storms would mark the first billion-dollar US SCS event of the year.
-
The broker has promoted Oriol Gaspa Rebull to global head of analytics strategy.
-
MAP’s Christopher Smelt said impact on nationwide programmes will cause risk aversion.
-
Both syndicates also reported a deterioration in their combined ratios.
-
Industry sources estimate the market to be around $3bn.
-
The firm also promoted Devin Inskeep to an expanded role as SVP, head of ratings and advisory.
-
Most of the industry losses occurred in Austria, the Czech Republic and Poland.
-
Guernsey’s TISE listed the world’s first private cat bond issued by Solidum Re in 2011.
-
Sources warned some property XoL books are already running 50% loss ratios.
-
Founding partners DeCaro and Rettino will continue to provide oversight and investment advice.
-
This will be the third cat bond issuance through Baltic Re PCC.
-
Earlier today, Aon confirmed president Eric Andersen had stepped down from his role.
-
The executive will remain with the firm as a senior adviser to the CEO until mid-2026.
-
The cat bond manager warned of excess downside risk owing to an accumulation of losses.
-
Flood Re’s bond Vision 2039 bucked the trend by pricing up 7% as its secured £140mn ($174mn) of limit.
-
The insurance industry has experienced mounting losses from severe convective storms.
-
The business offers parametric windstorm coverage.
-
Indirect exposure to cat risk through long-term investors gives Markel optionality.
-
Premiums ceded to the ILS vehicle increased by 76% to $433mn.
-
Commissioner Lara also proposed a $500mn cash infusion from parent State Farm.
-
Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
-
The reinsurer had taken the opportunity to buy more limit across event and aggregate covers.
-
ILS as a percentage of the pension fund’s total assets grew to 1.5%.
-
GP Affluent Markets will look to serve high-net-worth individuals.
-
The largest individual net loss at EUR230mn was caused by Hurricane Milton.
-
The bond was trading at around 12.3c on the dollar in the secondary market last month.
-
Both carriers have extensive reinsurance coverage.
-
This year’s coverage will involve $2.94bn of new risk transfer.
-
The UK listed investment manager has almost doubled its ILS allocation since April last year.
-
Tom Fealey has assumed lead portfolio manager responsibilities.
-
The executive worked in investment banking before joining the reinsurance industry.
-
This will be Brit’s first cat bond issuance since its 2020 deal through Sussex Capital.
-
This came as the market’s underwriting profit dipped 10% for 2024.
-
Almost 300,000 people have been left without power from the storm.
-
Some $625mn of new issuance entered the market in the first week of March.
-
There is the potential for cat bond H1 issuance to be a record breaking six months.
-
The scope of QRT’s new ILS strategy will include cat bonds and private ILS.
-
As of 14 February, the company received 405 claims.
-
The executive spent a brief period at Wakam in a capital and reinsurance role.
-
The fund is open to European and other global investors.
-
RAA president Frank Nutter says he hasn’t been able to get an update on the project from the now Trump-led NOAA.
-
The London D&F market will shoulder most of the losses.
-
The bond will provide fire protection for MGA Bamboo’s California business.
-
The role will focus on international treaty, specialty lines and strategic advisory.
-
Eric Paire was head of capital advisory at Aon for nearly seven years.
-
The reinsurer pegged the market loss at $40bn.
-
The carrier pegged its LA wildfire losses at EUR140mn.
-
The role oversees the $187bn Canadian pension plan’s ILS allocation.
-
Dispersion of returns was high, with the range 0.87% to -3.71%.
-
-
The programme structure was expanded, but it is unclear what percentage was placed.
-
The coverage will be on an indemnity, per-occurrence basis.
-
The bond will cover named storms in the state of Florida.
-
The third-party capital platform is looking to enhance its tailored strategy offerings.
-
The cost of reinstatement was included in $170mn wildfire net loss figure.
-
The terrorism pool has shifted its programme from facultative to an XoL arrangement.
-
Deal sizes increased by 84% on average across the six tranches that saw an increase.
-
Climate change and other loss impacts were not adequately incorporated, sources said.
-
The Class A section of the bond has doubled in size, at lower pricing.
-
HCI will now consist of two operating units – the other being its four underwriting entities.
-
ILS is delivering “a growing contribution” to the group, according to CEO Cloutier.
-
The firm has rotated capital in sidecar Voussoir toward direct investor relationships.
-
The NCIUA had initially sought $350mn of limit.
-
DaVinci equity plus debt stood at $3.25bn as of 31 December.
-
The carrier increased premium by 7% at the January renewals.
-
State Farm General has asked California regulators for an emergency rate increase.
-
There was a slight increase in DaVinci and Fontana from 31 December 2024 to 1 January 2025.
-
The firm reported record fee income of $128.2mn in 2024, up 26%.
-
Comments came as universal reported a 4.2 CoR jump to 107.9% in Q4.
-
Hurricane Milton accounted for 60% of the firm’s Q4 large loss tally.
-
The carrier expects the market loss to land at $35bn-40bn.
-
The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.
-
The firm ceded $417mn of premiums to the sidecar in 2024.
-
UCITS fund diversification targets limit their capacity for US wind bonds.
-
The conglomerate reported after-tax cat losses of $1.2bn related to Hurricanes Helene and Milton in 2024.
-
Pricing fell by 13.5% on a weighted average basis across deals that updated last week.
-
Several Florida start-ups are poised to begin writing business this year.
-
Modest increases to reinsurance costs were partly offset by the Australia cyclone pool.
-
The carrier estimated January cat losses of $1.08bn, or $849mn after-tax, including the fires.
-
The investors are led by PE firm NMS Capital Group.
-
Total combined losses for the agency’s Helene and Milton estimates stand at $31.8bn.
-
Scrocca will be based in Bermuda on focus on underwriting and risk sourcing, among other things.
-
A higher loss quantum will put a greater burden on retro programmes.
-
The estimate is net of its per-occurrence reinsurance program and gross of tax.
-
Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.
-
The aim is to capitalise on cat bond market’s robust growth and US peril concentration.
-
Insurance Insider ILS revealed last week that the executive was leaving Property Claims Services.
-
The loss aggregator has classified the fires as two separate events for reinsurance purposes.
-
New limit of $474mn entered the market across two deals.
-
The Class B segment of the bond has priced below initial guidance.
-
Wildfire is rarely singled out as an exposure that can shift portfolio outcomes.
-
The bond provides coverage for storms, earthquakes and severe weather events.
-
Two ILS funds featured in the top five asset-raisers within the index.
-
The fall marks this the first time in 20 years the index has been negative in January.
-
More than 33,000 claims had been filed as of 5 February.
-
The firm will match segregated accounts of portfolios to investor mandates.
-
The deal is being issued through Lloyd’s London Bridge 2 PCC.
-
The combined entity ranks third in the Insurance Insider ILS leaderboard.
-
The carrier is “extremely well capitalised” to achieve its strategic ambitions.
-
The insurer disclosed the estimates as it seeks emergency rate hikes from regulators.
-
Liquid alternative strategies accounted for around $1.4bn of the total.
-
The LA fires ‘demonstrate the magnitude of tail events not well captured in modelling’.
-
The role at PCS included acting as primary touchpoint for ILS.
-
The carrier’s reinsurance premiums ceded rose by 32% to $3.4bn in 2024.
-
The firm said the appointment would support its ambitious growth strategy.
-
Neuberger Berman’s AuM stood at $3.2bn as of 1 January 2025.
-
Citizens approved an average 8.6% rate hike and decreases for one-fifth of policyholders.
-
The bond is likely replacing the 2021-1 Class F bond, which matured in December.
-
The storm is likely to be one of the costliest weather events in Canadian history.
-
AuM remains generally flat at UCITS funds over the weeks since LA fires started.
-
The bond will provide coverage for named storms in North Carolina.
-
The executive has also worked for Guy Carpenter during her 20-year career.
-
American Integrity is seeking expanded limit on more favourable terms.
-
FY24 disclosures show shifting fortunes at reinsurer ILS platforms.
-
Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
-
Tower Hill secured $400mn of Winston Re limit in 2024.
-
Bolding will focus on aligning Gallagher Securities with Gallagher Re.
-
The carrier is likely to exceed its Q1 large-loss budget due to the California wildfires.
-
The reinsurer has cut the cession rate to 33% from 40% last year.
-
The group ceded 55% more premium to Nephila over the year at $1.3bn.
-
The sponsor secured $100mn limit last year, paying a multiple of 8.3x.
-
The carrier has been reducing its presence in the state since 2007.
-
The carrier has recognised two separate losses for the Palisades and Eaton fires.
-
The value of its investment in RenRe stood at $330.4mn as of 30 June 2024.
-
The restructuring arrangement is designed to protect creditors.
-
Derrick Easton has led Willis’s US ART team since joining the company in 2015.
-
The company says the recent wildfires will be the costliest in its history.
-
Programs did not offer adequate risk-adjusted return.
-
Shreeve’s role will encompass the Aon Captive & Insurance Managers’ ILS business.
-
Capital inflows, notably into UCITS funds, and accumulated returns supported issuance of $17.2bn in 2024.
-
Theokli joined the company in 2021 as a senior underwriter.
-
The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
-
EGPI growth at the carrier’s Alternative Solutions unit jumped 29.6%.
-
The carrier previously raised $125mn via an Ocelot Re cat bond in 2023.
-
The Integrity Re bond is structured into five tranches.
-
The offering is a collaboration with Generali and parametric carrier Descartes.
-
Barthelemy Thomas joins from PartnerRe Capital Management in Zurich
-
The reinsurer added two new tranches to its 2025 issuance.
-
Peril- and geography-specific deals are being well received by investors.
-
A negative January return will be unprecedented for ILS industry.
-
The index delivered a total return of 1.29% for the month of December.
-
Standards and guidelines address institutional investors’ concerns over valuation risks.
-
Menzinger succeeds Rowan Douglas, CEO of climate risk & resilience at Howden.
-
The carrier has around $2.5bn-$4bn of reinsurance cover specifically for California risk.
-
Axis Capital’s fee income from strategic capital partners grew 39% to $85mn in the year to 31 December 2024, up from $61mn the year prior, the firm’s Q4 earnings release said.
-
The capital partners unit was launched via London Bridge 2 in Lloyd’s last year.
-
Models will need to steepen the curve in the tail to reflect severe event frequency.
-
The carrier has been reducing its exposure to the area where the wildfires occurred by over 50%.
-
Company touts growing investor demand for Asian cat risks.
-
Non-proportional business accounted for 34% of its total.
-
Both the Class A and Class B notes increased in size.
-
The latest issuance will add extra cat bond limit, with a $100mn note still on risk.
-
-
The figure does not include specie or auto losses.
-
Secondary pricing on the carrier’s Topanga Re bond partly recovered following the guidance.
-
The platform will transform ILS transactions on behalf of Jireh and SRS clients.
-
CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
-
The firm will advise and support third-party risk capital providers.
-
The broker also plans to hire from LSN Re and Aon Re, as part of a build-out of its team in the French capital.
-
The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
-
The platform will match partner capital to provide capacity for reinsurance placements.
-
Compared with its initial figure, CatIQ’s latest estimate has increased by 40%.
-
PFZW’s insurance allocation stood at $8.7bn as of year-end.
-
He joins from Pillar Capital and will be based in Bermuda and New York.
-
Fermat stayed in the top spot surpassing $10.0bn for the first time.
-
Secondary market pricing indicated anticipated California wildfire losses.
-
Graeme Bell (pictured) will continue in his role as group legal officer.
-
-
The reinsurer has issued updated pricing for the instrument.
-
Guy Carpenter said personal lines exposure would account for 85% of the aggregate loss.
-
Theo Norris joins from Gallagher Re, which brokered one of the first 144A cyber cat bonds.
-
The reinsurer has made improvements to its life and health segment, it said.
-
The industry loss number has increased threefold from an initial $5bn pick.
-
The total includes fire and smoke damage plus living expenses for evacuees.
-
He was appointed acting CEO earlier this month, after Andrade’s departure.
-
Total economic losses were $368bn, 14% above the 21st century average.
-
The carrier’s Milton loss came in below expectations, but its fire claims will be “material” in Q1.
-
Losses from the larger fire will amount to $20bn-$25bn, the modeller said.
-
Most carriers paid more in homeowners’ claims than they collected in premiums.
-
Severe convective storms accounted for 41% of last year’s insured loss load.
-
Two 2021 worldwide aggregate ILW notes are also among the markdowns.
-
The carrier can claim separately for the Palisades and Eaton fires if necessary.
-
The bond is split into five tranches, with two notes offered on a zero-coupon basis.
-
Price guidance for the bond is 7.00%-7.75%.
-
The former Credit Suisse ILS head Niklaus Hilti said working on life buyout hedges could rejuvenate the life ILS market.
-
The carrier has received more than 3,600 claims from LA wildfires.
-
The vehicle has $2.55bn in capital committed by institutional investors.
-
The estimate has reduced slightly since the modeler’s last update in October.
-
The bond is likely replacing the 2021-1 Class F bond, which matured in December.
-
The fund returned 15.69% in calendar year 2024.
-
The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
-
Kusche and Rosenberg will co-lead the firm’s global ILS business.
-
This comes after the firm’s distribution partner GAM has had a challenging few years.
-
ILS managers expect the losses to have some impact on future cat bond spreads.
-
The reinsurance attaches at $7bn, unchanged for the past two years.
-
Prominent Name Dhruv Patel is the firm’s founder.
-
The strategy launched on 1 January, winning mandates from several investors
-
As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
-
The ILS and reinsurance broker was established last October by Raj Jadeja.
-
Amin Touahri spent five years in a variety of roles at Munich Re.
-
The 2024 loss figure exceeded that of the previous record of C$6.2bn in 2016.
-
The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.
-
Aetna, Inigo and GeoVera were the three sponsors seeking lower multiples.
-
The index’s performance in November was stronger than the prior year, although YTD returns are behind 2023.
-
Compressed cat bond spreads could drive some rebalancing, as M&A remains a prospect.
-
Investigators are homing in on the likely causes of the incidents.
-
The company’s stock price has plummeted in the wake of the LA wildfires.
-
Total economic and insured losses are “virtually certain” to reach into the billions.
-
AM Best said it expects insured losses from the California wildfires to be “significant”.
-
This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
-
The ILS manager analysed 16 UCITS fund portfolios to compare risk levels.
-
The vehicle is smaller by 8% as White Mountains’ participation grew.
-
Moody’s also expects losses in the billions of dollars.
-
The reinsurer is seeking annual aggregate cover against earthquakes and second-event named storms.
-
The sponsor has expanded its target deal size compared with a year ago.
-
The first cat bond deal from the carrier achieved its target size of C$150mn.
-
Six wildfires are now burning in SoCal, with the Palisades fire being the largest.
-
Six fires now cover more than 27,000 acres across Southern California.
-
Hurricane Milton resulted in the largest insured loss of the year at $25bn.
-
He succeeds Wayne Peacock, who retires this year after four years of service.
-
Andrade is taking up a CEO role at another “prominent financial services firm”, Everest said.
-
The move means Lloyd’s will have a new chairman and a new CEO in the same year.
-
Paul Poschmann joins from Gallagher Re, where he was a divisional director.
-
More than 4,000 acres are burning as thousands evacuate.
-
The reinsurer is seeking index-based cover for a wide scope of perils and territories.
-
The deal is split into two tranches compared with the single note issued last year.
-
The renewal marks the seventh issue of the retro vehicle.
-
The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
-
Cat bond investors have earned a cumulative 39.6% over 2023 and 2024.
-
The carrier said reinsurance was a key component of its “low-volatility strategy”.
-
The vehicle is yet to recover to 2021 levels of $235mn.
-
Spread guidance anticipates a lower multiple compared to 2024’s Vitality Re issuance.
-
The forecasts anticipate a large volume of maturities and rising sponsor demand.
-
In the US, pricing fell by 6.2% at the major renewal.
-
The multi-day weather outbreak caused widespread damage from Texas to the Carolinas.
-
The manager’s Interval Fund returned 28.25% over the financial year.
-
Nicole Chase was central to the build-out of Mt Logan while at Everest.
-
Cat bonds were a key supply-side driver at 1 January 2025.
-
Investment in the space comes mainly from the cat bond market, Gallagher Re said.
-
The broker anticipates strengthening investor demand for collateralised re.
-
Over-subscriptions have been evident on well-priced US cat treaties.
-
The Bermuda based entity is expected to continue on its “responsible growth trajectory”.
-
Increased reinsurance capacity was more than sufficient to meet continued growth in global demand.
-
The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.
-
First-time sponsor QBE secured $250mn of quake and storm coverage.
-
The broker estimated ILS capital has reached $107bn.
-
The UCITS cat bond segment has added 54% in AuM since Hurricane Ian.
-
Some $1.2bn of limit was placed in the cat bond market this week.
-
Casualty ILS made inroads, while hurricane hedging strategies came into focus.
-
The $600mn fund could allocate up to 10% of assets to cat bonds from 2025.
-
Initial spread guidance for the three-year bond is set at 425-500bps.
-
The firm will also act as sub-adviser to the Brookmont ETF cat bond fund.
-
The executive will play a key role in capital arrangements for Acrisure’s suite of underwriting units.
-
The storms struck Victoria, New South Wales and Queensland.
-
Recoletos Re DAC SPI takes its name from the Paseo de Recoletos boulevard in Madrid.
-
The carrier has raised $75mn of higher-risk Class C coverage.
-
The bond offers a higher multiple than a similar Fuchsia Re deal placed last year.
-
The reinsurance veteran joins from Artex Risk Solutions.
-
Most of the industry losses occurred in Austria, the Czech Republic and Poland.
-
The company no longer has any exposure to reinsurance contracts.
-
Everest is in the process of transforming its ILS offering.
-
The Class A and C notes increased in size, while the Class B note remained unchanged.
-
Mapfre Re CEO Miguel Rosa was “very satisfied” with the debut cat bond deal.
-
Overall, reinsurers accepted that rate cuts were still leaving them with strong margins.
-
Full year 2023 set the record to beat of $15.8bn in new issuance volume.
-
The carrier has used Lloyd’s London Bridge 2 structure for the launch.
-
The firm said it benefited from favourable retro market conditions.
-
The reinsurer said investors were interested in expanding after benefiting from good results.
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The Swiss-based team of Siglo has transferred to Cambridge Associates.
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The top quartile, which includes Nephila 2357, were set to shrink overall.
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The firm has added three new retro partners during 2024.
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The bond will provide multi-peril coverage in the US and District of Columbia.
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The former co-head of ILS at Schroders left the bank last month.
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The pricing multiple on the deal is 12.1x the sensitivity case expected loss.
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The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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The single Class A note is paying a multiple of 2.1x.
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The Class A and Class B notes are paying lower multiples than initially guided.
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TSR anticipates that next year will see an ACE value of 129 compared with the 30-year norm of 122.
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The state reinsurer of last resort discussed options for 2025 reinsurance buying strategy.
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Magnani has served for more than 14 years in ILS broking roles.
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The ILS manager will “pragmatically accept” a degree of credit risk in deals.
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Beazley returned with its second Fuchsia cat bond issuance.
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The bond will provide coverage for named storm across five US states.
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Former ILS investors who left the space have looked again and re-allocated.
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The scheme’s ILS allocation has held steady at 0.7% of the total fund.
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
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It estimated insured losses from nat cats on track to exceed $135bn in 2024.
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The carrier attributed the intensification of storms this season to climate change.
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Pricing on the Class A and Class B notes settled below guidance.
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The bond will provide named storm and quake coverage.
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WTW sold Willis Re to Gallagher in 2021 for $3.5bn.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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The facility will also provide a dividend to clients for the first time.
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The $100mn note was unchanged in size.
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Management track record has been a factor in capital raising for 2025.
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Robert Salzmann has been with the Swiss Re insurer for a decade.
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Fidelis is seeking more cat bond cover than it did almost a year ago.
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The firm is understood to be reviewing contracts to bind coverage for 1 January.
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Lloyd’s has taken around 6% of aggregate US hurricane losses in recent years, and disclosed estimated net losses from Helene and Milton of $1.8bn to $3.4bn.
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Losses from Hurricane Milton are expected to affect only select junior structures.
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The 2024 hurricane season stayed within predictions for high activity but lacked market-moving events.
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The ruling indicated it was unlikely all claims would be dismissed, as defendants had requested.
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The fund will invest in listed and private transactions.
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The Class B notes on the carrier’s debut deal attach at $500mn of losses.
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The ILS manager has hit back at an attempt by the defendants to have the case dismissed.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
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Euler ILS Partners and Tropical Storm Risk teamed up to produce an updated version of an earlier study.
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The bond will provide aggregate coverage against named US storm.
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The bond is split into three tranches of notes.
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The loss figure has increased 200% from the initial number provided in October.
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This is the second time Fidelis has entered the cat bond market this year.
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The latest clutch of offerings indicates pricing discipline in the bond market.
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Other capacity supporting the syndicate is mostly individual Names, sources have said.
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Moderate impacts to ILS returns are anticipated from Hurricane Milton.
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Athena Re provides coverage against terrorism in France and its overseas territories.
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The association’s Hurricane Beryl net loss stood at $455mn as of 30 September.
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The estimate includes $102mn from Milton and $114mn Helene development.
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The UCITS fund was launched in 2021 and invests in cat bonds and the money markets.
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It is targeting $25mn GWP this year and $50mn GWP in 2025.
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The headline figure of $7.72bn includes $3.11bn of DaVinci equity plus debt.
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The bond is targeting $225mn of limit across the Class A and Class B notes.
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Spreads at levels favourable to sponsors could power Q1 2025 pipeline.
