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USAA is planning to upsize its latest Residential Re cat bond by at least 24 percent, as the target size of the deal moved up to $280mn-$285mn from an initial $225mn, Trading Risk understands.
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The Californian Earthquake Authority is seeking to raise a further $400mn reinsurance cover from a new issuance of Ursa Re cat bonds, Trading Risk sources have said.
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Heritage reported an $8.7mn net loss in the third quarter as it retained $20mn of a gross $388mn loss from Hurricane Irma
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Singapore has announced a scheme to pay for the upfront costs of structuring catastrophe bonds
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USAA could be set to claim a payout of about $20mn under the class 10 aggregate layer of its Residential Re 2017-1 cat bond following losses from the Californian wildfires and hurricanes Harvey and Irma, sources told Trading Risk.
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BlackRock has added catastrophe bonds to the list of investment targets for a new opportunistic fixed income fund it is launch
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XL Catlin is set to raise $150mn from its latest Galileo Re cat bond, as the final spread on the higher-risk tranche of the deal suggested a shift upward in ILS pricing after this year's hurricane losses.
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Validus recorded a $74.1mn loss attributable to AlphaCat investors in the third quarter, as the (re)insurer's asset management platform reserved for $574mn of net losses for the period
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Scor said that none of its $630mn of ILS protections had triggered as a result of third quarter catastrophe losses
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XL said that its cat bonds were not currently expected to respond to this year's hurricane activity as it ceded 44 percent of its gross losses from Q3 catastrophes to its reinsurance and retro partners.
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Argo is expected to make significant claims from its $172mn cat bond Loma Re as a result of this year's hurricane activity, Trading Risk understands.
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Bid ranges for wind-exposed cat bonds, including high-risk layers sponsored by Floridian carriers and annual aggregate cat bonds, continued to vary hugely in October, Trading Risk data showed
