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AmTrust Financial Services has emerged as the latest first-time cat bond sponsor this year as it seeks to raise $100mn from Fortius Re II, according to Trading Risk sources.
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Nephila Capital more than doubled the amount of reinsurance cover it provided Florida Citizens Property Insurance this year, helping to lift the total collateralised limit to make up more than a third of the $1.0bn programme.
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The premium on Axis Capital's second at bond Northshore Re II 2017-1 has come in below its initial targets, as the carrier is set to raise $350mn of reinsurance cover from the issuance, Trading Risk understands.
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The International Bank for Reconstruction and Development (IBRD) has reduced the upper target for its first pandemic cat bond to $350mn as pricing on the deal tightened further, according to Trading Risk sources.
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The International Bank for Reconstruction and Development (IBRD) has raised the target size of its first pandemic cat bond from $100mn to potentially as high as $400mn, according to Trading Risk sources.
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Axis Capital has increased the target size of its second cat bond, Northshore Re II 2017-1, by $100mn to reach $350mn, as pricing on the transaction tightened, Trading Risk understands.
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Generali is set to raise EUR200mn from its Lion II Re 2017-1 cat bond at an insurance rate that settled 20 percent below its initial target, despite the inclusion of new perils for the ILS market.
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Washington lawmakers yesterday put forward a number of bills for consideration by the full House of Representatives which will pave the way for an overhaul and extension of the US National Flood Insurance Program (NFIP).
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Generali has lowered the price guidance on its Lion II Re 2017-1 cat bond, which would be the first ILS transaction to include European flood risks, Trading Risk understands
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Swiss Re has bolstered its retro support from the Sector Re sidecar by around $100mn in the past year to take the vehicle's total capacity to $492mn, Trading Risk understands.
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Despite a softer-than-expected 1 June Florida renewal, hedging activity in the industry loss warranty (ILW) market has been slow, with buyers holding back amid a glut of capacity, sources said.
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Switzerland-based asset manager Plenum has discontinued its partnership with Sequant after marketing a new non-catastrophe ILS fund with the Bermuda asset manager last year, Trading Risk can report.
