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Twelve Capital has completed a $9.63mn Dodeka XII cat bond lite deal, according to a Bermuda Stock Exchange listing.
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New York's Metropolitan Transportation Authority (MTA) has returned to the cat bond market and is seeking $125mn of reinsurance protection from a new MetroCat Re 2017-1 cat bond, according to sources.
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The US Senate is scheduled to hear a proposal this week to extend the National Flood Insurance Program (NFIP) for an additional 10 years, increase coverage limits and build in authorisation for it to purchase reinsurance.
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Aon Securities said it continued to believe that 2017 could be the biggest year for the cat bond market since 2014 as it reiterated its forecast for $8bn of new issuance.
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Managing general agency (MGA) Ventus Risk Management has signed up a top five ILS manager to provide it with capacity for its portfolio of small-to-medium-size enterprise commercial US insurance business
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Florida Citizens has increased the target size of its Everglades Re II 2017 cat bond from $250mn to $300mn as the deal is set to price at the lower end of forecasts, according to sources.
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Average ILS fund returns reached 0.23 percent in March, according to the Eurekahedge ILS Advisers Index, as fund managers continued to monitor their exposure to Cyclone Debbie.
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Nationwide Mutual Insurance Company has increased the target size of its new Caelus Re V 2017-1 cat bond by 25 percent to $375mn, according to sources
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The target insurance spread on the new Everglades Re cat bond for Florida Citizens Property Insurance has narrowed to the lower end of initial forecasts, according to sources
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AlphaCat added $200mn to its assets under management in the first quarter to reach a total of $2.9bn at 1 April, parent company Validus said as it reported its Q1 results.
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The Torrey Pines Re cat bond for first-time ILS sponsor Palomar Specialty Insurance is set to close at $166mn, 16 percent above the initial target of $143mn, Trading Risk understands.
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The California Earthquake Authority (CEA) is seeking $500mn of reinsurance from a new Ursa Re 2017-1 cat bond, according to sources
