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The cat bond market has gained some much-needed diversification following the launch of three Japanese deals, including a $700mn transaction.
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Nationwide Mutual and Heritage Insurance Holdings each expect to recover more than $100mn from cat bonds, Trading Risk reported this month.
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The riskiest tranche of Tokio Marine's Kizuna Re II 2018-1 earthquake cat bond has settled at the lowest end of the initial guidance, while the deal's overall size has remained unchanged at $200mn.
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The Texas Windstorm Insurance Association (TWIA) will reset its Alamo Re 2017 cat bond to trigger at a lower level after its Hurricane Harvey losses wiped out the association's funds.
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Hannover Re ceded 37 percent of its 2017 catastrophe losses to retro partners, passing on EUR662.6mn ($537.4mn) of claims throughout the year.
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ILS investors are closely monitoring the World Bank's pandemic cat bond, as a partial payment could be triggered if a major outbreak of Lassa fever widens in Nigeria, sources told Trading Risk.
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Allstate Insurance Company is seeking $400mn from its latest Sanders Re cat bond, which will cover named storms, earthquake, severe weather and other perils.
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Florida insurer Heritage said that underwriters have already offered the carrier quotes for flat pricing on hundreds of millions of dollars of limit on its 2018 property cat placement.
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The Resilience Re platform run by Willis Towers Watson Securities has completed a $60mn ILS issuance, according to a Bermuda Stock Exchange announcement.
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Florida Citizens Property Insurance is now expecting to make some reinsurance recoveries related to its Hurricane Irma claims after these losses rose from initial estimates, the insurer's chief financial officer Jennifer Montero said at the Sifma IRLS conference in Miami.
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Floridian insurer Safepoint is targeting $165mn from its three-year Manatee Re 2018-1 cat bond, according to ?sources.
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State Farm announced a pre-tax operating loss of $1.7bn for its P&C companies in 2017, as last year's catastrophes took their toll.
