Here's our latest Friday wrap-up of key news from the week.
The catastrophe bond market continues to be busy with new deals being marketed for sponsors, global player Hiscox with its second Ocelot Re deal and Florida insurer Security First with a new First Coast Re IV issuance.
Reinsurance giants saw successful pricing if their latest cat bonds, Swiss Re with its $210m Matterhorn Re deal and Hannover Re with a $200m 3264 Re.
Meanwhile, GeoVera looked to upsize its latest Veraison Re cat bond to $450m.
California wildfire news remains in focus, with a minimal effect of secondary market write-downs visible in the Plenum UCITS Cat Bond Index.
Twelve Capital highlighted occurrence deals that could be affected by LA fire losses.
Euler ILS Partners said the wildfire losses may stabilise or raise US reinsurance and retro pricing.
RenRe is working off a $50bn industry estimate for the fires, and its CEO said that the wildfires are a tail event that could hit most of the firms US property cat programs.
In other news, private ILS funds slightly outpaced pure cat bond funds in the 13.10% ILS Advisers Index return for full-year 2024.
Radix Insurance Linked Strategies (Radix ILS) has been launched by former-Hamilton exec Hanni Ali.
Montauk Point has been launched by Adam Szakmary to provide independent strategic advice to third-party capital.
Ariel Re Capital Partners completed its first fund-raise, using London Bridge 2 transformer.
MS Amlin increased the size of its Phoenix Re sidecar structure to $90m for 2025.
ILS manager Securis Investment Partners announced a new investor relations hire in Armand Foy.
The PGGM / PFZW ILS portfolio delivered a 15.1% return in 2024, with assets under management relatively flat across the allocations.
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.
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We'll be back next week with more regular coverage.
We hope you have a safe & relaxing weekend.
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