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Here's our latest Friday wrap-up of key news from the week.
This week the catastrophe bond market pipeline continued to build and issuance of 144A cat bonds is already at the second highest level for any year on record.
Ariel Re has returned seeking $175 million or more through a Titania Re Ltd. (Series 2024-1) transaction, a deal that had initially been mooted earlier in the year.
The Acorn Re parametric cat bond upsized to $450m, while pricing down.
While NN Group's Orange Capital Re also saw its price guidance lowered.
USAA is also looking to upsize its new cat bond, but again reflecting strong issuance conditions the price guidance for ResRe 2024-2 has also fallen.
Also this week, we reported that the Swiss Re Cat Bond Index rose further and has now more than regained all of the decline caused by hurricane Milton.
We also reported that Allstate revealed a $100m initial loss forecast for Milton, at which level its lowest attaching Florida cat bond may be exposed to a loss.
In other news this week, we published a deep-dive interview with Anguel Zaprianov of Enstar, looking at the legacy specialists new product for the ILS market, the Forward Exit Option (FOE).
We also published the report from our 2024 Monte Carlo Executive Roundtable event.
FEMA reported that it has 54,000 filed NFIP flood claims related to hurricane Helene.
USAA estimated hurricane Helene losses of $1.15bn, suggesting some reinsurance recoveries will be made.
Pascal Koller of LGT ILS Partners told us that some investors have started to experience benefits from the outperformance of investments in the private reinsurance segment compared to catastrophe bonds.
Bill Dubinsky, CEO of Gallagher Securities spoke with us and said the cat bond market may be challenged to continue a growth-setting pace in 2025.
Finally, if you haven't seen them, Artemis has a wealth of data and analytics on the catastrophe bond and broader ILS market. View our charts and Deal Directory.
Catch up on our video interviews with ILS market leaders here.
If you prefer to listen, subscribe to our podcast series for audio interviews & additional special episodes.
We'll be back next week with more regular coverage.
We hope you have a safe & relaxing weekend.
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